“A young person doesn’t need capital for a deposit,” McMinn says. “We’ve become a nation of renters when it comes to cars.”
This points to something that worries me about the future. Broadly speaking, the less we own and the more we "rent," the more we empower the rentier class, along with the already powerful creditor class. The transfer of wealth to the wealthiest classes has been underway for some time now. That's hard to reverse, and it's not working out well for most of us. What happens if a transfer of the ownership of stuff gets the same momentum?
This points to something that worries me about the future. Broadly speaking, the less we own and the more we "rent," the more we empower the rentier class, along with the already powerful creditor class. The transfer of wealth to the wealthiest classes has been underway for some time now. That's hard to reverse, and it's not working out well for most of us. What happens if a transfer of the ownership of stuff gets the same momentum?