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> investment is literally future labor expectations. and a risk. This is simply Marxist crap and outright untrue. > in case of crisis the gov routinely starts
by KK7NIL 2y ago
> investment is literally future labor expectations. and a risk.
This is simply Marxist crap and outright untrue.
> in case of crisis the gov routinely starts bailouts and save the financial markets with interest rate operations or open market operations. those operations have deep re-distributive implications
This is a rather new phenomenon and not at all necessary for profitable private investment.
It's really completely irrelevant to the discussion.
- ben_w 2y ago> This is simply Marxist crap Not only but also. Adam Smith counted labour this way, along with capital and natural resources. Until we're all rendered unemployable by AI[0], there's still human labour doing stuff in the system — the bedrock foundation for all the rest. [0] 2^(1 + roll a D4) years? I expect it to be relevant on the timescale of me reaching pension age, but between Scylla[1] and Charybdis[2] I'm not at all certain. [1] smoke-and-mirrors marketing [2] exponential growth