3 ms·
> the engine of capitalism starts to drop in efficiency because it's choking on too high a amount of misrouted investments in some areas, and not enough in othe
by ancap 11y ago
> the engine of capitalism starts to drop in efficiency because it's choking on too high a amount of misrouted investments in some areas, and not enough in others.
The "misrouted investments" you speak of, are only possible, on any large scale, by an ever increasing money supply provided by a central bank. To put in other words, there can be no bubbles, of any kind, without the expansion of the money supply. This expansion in the money supply is decidedly not capitalistic.
- gnaritas 11y ago> The "misrouted investments" you speak of, are only possible, on any large scale, by an ever increasing money supply provided by a central bank. As he pointed out, not true, it's also possible by too much centralization of wealth, i.e. inequality. Inequality happens regardless of central bank interference with the money supply.