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Not necessarily. Market-driven capital allocation tends toward over-centralisation in natural monopolies, like land. Allowing private building for only new homes just uses that in a socially productive manner, without reducing the private capital of others.
(I’d argue that landlords are bad capitalists, much like Adam Smith.)
slippers
Again we enter the world of the govt interfering with capital allocation which generally has unintended consequences... I'm probably too righty for this thread.