2/9/2024 0 Comments Global index alpha citiesThe past decade has been a period marked by a politics that has consistently rejected the possibility that the state tax and invest, whether this be corporations, land, property or other forms of wealth. Those same young people are more likely to emerge as renters as house prices rise out of reach. Today, most young people have grown-up in these same wealthy households, or have looked-on bemused and angry at the unending flows of luck flowing to those have been able to afford their own homes. The property wealth of homeowners is among the most significant elements of national wealth and, of course, the key to the wealth of these households. Even a light tax regime on the estimated $35tn of monies held in offshore tax havens could pay for the entire cost of the COVID-19 pandemic. But we do, at least, have the money to do the job. Making arguments for social investment, reducing inequalities of various kinds and addressing structural divides across regions and communities require significant public investment. The social sciences often have a hard time being heard.
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