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The problem isn't power, it's the behavior generated by rules of the system. Because agents only receive output proportional to the capital they possess, they a
by drabiega 11y ago
The problem isn't power, it's the behavior generated by rules of the system. Because agents only receive output proportional to the capital they possess, they are incentivized to accumulate capital and the system ends up optimizing for capital instead.
As the system progresses, agents get the choice between loosing their allocation or using it to accumulate capital. This is unfortunate since, theoretically, the whole point of capitalism is to maximize long term consumption.
- plutooo 11y agoBut what is capital but investment in the long term?