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170 – By George, The Rent Is Too Damn High!

The Bayesian Conspiracy

CHAPTER

Investing in Capital, You Know?

Land has zero cost of production because it's already there and you can't make it. The only way you get anything from land is from the ability to exclude others from using it. That means that any payment or benefit you realize is by excluding others from using the land or its fruits. You specifically cannot create land. It is already there. So there is no way you could get interest from capital because you didn't have to make anything and then put it out there to risk. I think this is a lot more intuitive if you think of farming. Yeah.

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