关键词: 房地产投资 , 租金 , 李嘉图等价 , 代际公共物品 , 国家理性

Abstract: Land and housing are public goods of history community of labors Whether the society is able to solve housing problem in accordance with the principle of efficiency and fairness or not determines whether the society can solve the conflicts between the specific interest and the historical interests of labors The essence of the conflicts is that between individual rationality and state rationality The public power to extract and use rent from economic system is the basic way to solve housing problem Different systems have equivalence On the constraints of stable society, the public power to extract and use rent cannot guarantee that the resolution of housing problem meets the principle of efficiency and fairness Therefore, the society needs better political nature, legal constraints and moral conscious for state rationality of labors

Key words: real estate investment , rent , Ricardian equivalence , intergenerational public goods , state rationality