Yeah that’s what I meant. Capital can be used for non-zero-sum games and increase the size of the pie. That’s certainly the narrative of the current central-ban

Yeah that’s what I meant. Capital can be used for non-zero-sum games and increase the size of the pie. That’s certainly the narrative of the current central-bank-inflationary-fiat hegemony – some fisherman who wants to buy a boat, or a farmer buying land and equipment. That’s why we (allegedly) accept the that the money in our wallets and bank accounts lose their purchasing power. However, my understanding is that the reality is quite different. That the majority of money creation (70%+) is issued as debt for asset transfers. In either case, the idea that capital, in general, is not just a proxy for, but equivalent to “productivity”, means that the system is self-reinforcing; the only outcome is success, and the only fix is more of the same system. If I argue that say functional programming is the best way to program, I have to define an external metric in which another paradigm can win. Otherwise it’s just blind belief.