What is the fundamental issue is: monetary central planning – with its embarrassingly awful one hundred year track record with paper monies – or getting government’s direct or indirect hand off the handle of the monetary printing press.
The Crisis is Not Debt Default, But Too Much Government Spending
The essential moral case for finance that Brook and Watkins present is that finance is good by the standard of human flourishing.
Land prices skyrocket when the supply of land is artificially and drastically reduced, which means that housing prices become astronomical.
It is no coincidence that housing prices in coastal California began skyrocketing in the 1970s, when building bans spread like wildfire under the banner of “open space,” “saving farmland,” or whatever other slogans would impress the gullible.