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As in Japan, it was forced sellers who lost. By one estimate, the transfer of wealth involved in the land reform was equivalent to 13 per cent of Taiwan’s GDP passing from one group of people to another.49 The structural effects were the creation of a textbook market environment in which everybody had a small amount of capital, and an evening out of income distribution. When the share of property income in a society falls (here because fewer people were renting out land), income from current work is relatively more important and overall incomes diverge less.
How Asia Works
Joe Studwell
a three-year-old girl dying from malnutrition in first-century China because her father’s crops have failed. Would she say ‘I am dying from malnutrition, but in 2,000 years, people will have plenty to eat and live in big air-conditioned houses, so my suffering is a worthwhile sacrifice’?
Sapiens
Yuval Noah Harari
Some religions, such as Christianity and Nazism, have killed millions out of burning hatred. Capitalism has killed millions out of cold indifference coupled with greed.
Sapiens
Yuval Noah Harari
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