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Palo Alto: A History of California, Capitalism, and the World Highlight

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Rapid growth in housing prices is a global phenomenon: It’s not a bet that people with good jobs will continue to want to buy their own homes; it’s a bet that capitalists won’t have anything better to do with their money than speculate on an intrinsically scarce resource such as land. That has been a very good bet.

— Malcolm Harris

Replicated under Fair Use from Palo Alto: A History of California, Capitalism, and the World by Malcolm Harris.

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