2.1.1-2: Introduction

Module 2, Section 1.1-2

Introduction

1.1 In this course we are presenting a basis for understanding how it has come to be that fewer than three hundred multi-billionaires now have as much wealth as three billion people - half the population on earth at this time. We are asking why millions of people die from hunger and disease each year when there is enough to meet basic needs for everyone. In Module 1 we focused on the issue of Land Rights and Poverty and learned that a disproportionately few people have laid claim to a vast amount of land and natural resources the world over. Module 2 explores another key to understanding the “land problem” – the problem of land price escalation and how wages do not keep pace with the price of housing and other basic needs.

1.2 Luning Wang tells us this about life in his city:

I live in Shanghai, a modern city. Full of rich men live in big house. Full of peasant workers live in shelter. They cast their land and go here to make money. They work as labourers in the factories and building sites. Some are selling small goods and fruit on the street. Full of educated young men graduated from college work in foreign companies day and night to earn their hope. They are busy hard working late until night. The house price is much high than ever. It seems all the people in the city are working for the house. They need to work for their whole life to pay back the debt of the bank. All their money and resources have been kidnapped by the house.

 

It is likely the case that regardless of where you are residing on the planet right now, you, too, are aware of the problem of rising land prices alongside relatively stagnant wages.