Rents and housing prices would certainly fall—possibly in some areas become free, though most legal systems today would have a problem with the.
Still, I think the point about the relative scarcity of labor to capital has a point so would expect an increase there even though aggregate demand will have fallen.
Yeah, rents and housing prices would be a better example :-P
Rents and housing prices would certainly fall—possibly in some areas become free, though most legal systems today would have a problem with the.
Still, I think the point about the relative scarcity of labor to capital has a point so would expect an increase there even though aggregate demand will have fallen.