I guess its mostly right on a surface level for developing economies. but i think it missing some other factors. People’s identities and personal beliefs (relgion etc) play a big part in what they will accept.
Idk it might put too much emphasis on elites controlling things. I think they definitely do, but only to an extent.
Completely unprecedented. there isnt an economic model in existence that could have predicted this. no one could have imagined that building more housing would bring down rents. no one.