> how does a net new innovation factor into this framework. New pharmaceuticals for previously untreatable diseases for example. What slice of the fixed money p

> how does a net new innovation factor into this framework. New pharmaceuticals for previously untreatable diseases for example. What slice of the fixed money pie do those get? Whatever slice the free market determines. And any "slice" that anyone gets is constantly changing, since money is exchanged constantly. So thinking of a fixed supply of money (or even a non-fixed supply of money) as having some fixed allocation among everyone is simply wrong. That's not how it works. (Note that common descriptions of the wealth of wealthy people, say Bill Gates, are misleading since they always give a dollar figure--Gates is worth $50 billion, let's say. But the vast majority of that $50 billion is not money. It's assets like stocks, bonds, real estate, etc., and the $50 billion figure is just an estimate of the sum of the prices all those assets would fetch if Gates sold them on the market. It is certainly not a measure of money that Gates has stuffed under his mattress or is otherwise hoarding.)