Capital is not abstract, capital is a production input (not sure the correct English name for this), the same as iron, concrete, flour, etc. You don't find any

Capital is not abstract, capital is a production input (not sure the correct English name for this), the same as iron, concrete, flour, etc. You don't find any problems in paying for flour, do you? Then why is it a problem to pay for capital? Another thing. State "capital" has been done, it's called communism (or heavy socialism), it doesn't work. Why not? Because the people making decisions on State "capital" do not get any of the downsides. You burn 50% of State owned capital? Who cares, it's not yours anyway. And final one - managing capital is work! Knowing where to put your cash is work and it has a huge impact. Think how much of an impact can have somebody investing billions in space exploration (Musk?), or aging, or cancer. There are plenty of big trends worth investing that will give humanity as whole immense benefits (just look at the past 100 years). Capitalism is not perfect, post-scarcity is a real threat, but the author is making the wrong arguments. The real problem is what people will do once we reach post-scarcity? What religions will they believe? What philosophies? How will they spend their time? Can they bear a life with 0 problems (I am not so sure I could)?