Wouldn’t the wealthy sell up and flee with their wealth?
Few would flee; they would stick around and utilise their wealth in productive enterprises which would allow them to utilise their managerial or entrepreneurial skills to generate more wealth for themselves and, through resource rentals, for the community at large. People could shift cash, gold jewelry, antiques, paintings or any other moveable assets offshore to their heart’s content. They could use all the modern electronic means at their disposal to move funds, and do whatever they like with their money. Anyone who’s willing to work for a living rather than be supported by the labour of others will be grateful. If there is a flight of non-productive capital, the only function of which was to hold land and resources out of use in expectation of some future unearned profit, then their departure would not be missed in the long run. As these non-producers fought to get rid of their unused sites, the prices would drop, and Mr. and Mrs. Joe Bloh would be able to realise the Aussie dream o
