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0 pointsjnwatson4y ago0 comments

There are several TV shows that show house flippers. You think that's immoral?

For each property, they engage in two transactions for which all parties involved are willing participants. How is that immoral?

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pas4y ago

Willingness is not necessarily, informed consent, and even that might be due to exogenous probabilistic predetermination.

So if we go by Rawlsian concepts: if it's not fair, it's immoral. If the market maker makes too much, then it's economic rent (due to rent-seeking behavior), which a lot of people consider immoral.

jnwatsonOP4y ago

I don’t understand how it is rent seeking. They are actually improving the supply of housing by fixing them up.

How is it possible for the market-maker to make “too much” in a free competitive market? They don’t have any special capability that the average home buyer doesn’t have.

I really don’t understand the angle. Capitalism is all about selling 5 cent pencils for 10 cents.

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