I'm not suggesting that all economic transactions are zero sum. I'm just using that idea to expose what value really is. > No value is created or destroyed (o

I'm not suggesting that all economic transactions are zero sum. I'm just using that idea to expose what value really is. > No value is created or destroyed (outside of trading fees), just transferred between parties. That transfer is the value. In fact, that's pretty much the point of finance in its entirety - moving around capital/risk is valuable in and of itself.