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You completely missed my point. Money itself, of course, doesn't matter. It's just a unit of account we use to quantify the value of economic resources we have.
by ETH_start 2y ago
You completely missed my point. Money itself, of course, doesn't matter. It's just a unit of account we use to quantify the value of economic resources we have. It is the economic resources themselves that matter, and when we find ways to run businesses more profitably or provide products at a lower cost, that results in the long run in more economic resources being generated. That's how it works in a market economy, and a market economy is orders of magnitude more effective at the process of developing capital and raising our productivity than any other way of organizing society.
- aziaziazi 2y agoWith all respect, I think your reflexion is reasoning with economical ressources while ignoring the (finite) material ressources which is exactly KennyBlanken point. If you're increasing today's productivity with actions that will decrease tomorrow productivity, the result for this week productivity may be negative. E.G. most countries regulate pesticide use for that reason.
- ETH_start 2y agoSomething like 99.99% of the energy emitted by the sun every second is wasted forever into space. The faster we can grow the economy and build out machines that can harvest that solar radiation, the less material resources are wasted.