¶ Building Industry
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Index Entry
Building Industry:
"$3 billion; and it becomes obsolete before being used for anything except a lethal ‘thr-at’ in the world’s political-balance-of-power poker game known for the moment as ‘Detente.’
"The multiterraced waterfalls of wages to be paid and profits to be made in all the subcontracting ramifications of the original US government’s ‘defense’ commitments now of $100 billion a year, then induce progressive resettlement of wage-earners in various new localities which are exploited by real-estaters who enormously inflate previous farm-land values by staking out lots and running water and sewer lines, a few paved streets and sidewalks, maintenance of which become the legal responsibility of the owners and their local governments and are funded by tax assessments, the anticipation of which is used to repay moneys borrowed by the local governments through issuance of bonds whose ultimate payment is guaranteed by the up-to-now-seemingly-certain resale value of the physical properties themselves and their costly ‘infrastructure’ of streets, sewers, water, gas, and electricity lines, transportation systems, and government buildings, etc.
¶ Citations
- ACCOMMODATING HUMAN UNSETTLEMENT, pp.18-19; 20 Sep’76
