Another way to explain how we’re being robbed
For a time, HGS instructor George Menninger did a presentation entitled something like “How I Made $1,000,000 in Chicago Real Estate: I $tole it from You!” George explained that he gained, actually, over a million dollars, simply by buying and holding an old apartment building in a gentrifying neighborhood. Over the years, rents on the apartments paid the mortgage and operating expenses, and after a time he sold the property for a seven-figure price. He explained, in the presentation, that the money he gained really came from the community.
These facts are clear but perhaps a little dry. That’s why we drafted an interview version, where a naive member of the HGS staff would ask George questions, and his response would provide the explanation. George wasn’t enthused about this and moved on to other projects, but a draft script (pdf) remains. Perhaps someone will find it of interest.
Note there are references in the script to “chart” and “pie,” these being standard components of the Progress & Poverty course explaining factors of production and avenues of distribution, respectively. There’s also a reference to “savannah,” which would be linked to here.