2 ms·
Haven't opened the article yet, but surprised the comments so far are generally in the framework of "oh, economy produces more X, but too much more of a proport
by ricksunny 7mo ago
Haven't opened the article yet, but surprised the comments so far are generally in the framework of "oh, economy produces more X, but too much more of a proportion of X is going to [the fortunate few] and too little to [the unfortunate many]." where is X is some kind of fungible consumable. Rather what I see are asset holders and liabilities holders (same spectrum, some enjoy the positive side, some struggle on the negative side). Goods (the consumable, fungible sort) flow in, around, between, and all throughout them. But the only ledger that matters, the one that makes some stressed out and others feel empowered & satisfied, is the asset-liability spectrum.
Update:
And now I've read at the article. Decent, it might sa well be the GPT of "Update Das Kapital for the 21st century". (GPT here being a figure speech, i.e. irrespective of whether an LLM helped in composing the piece). Article still fixates too much on differential parceling out the flow of economic product, and not the asset-liability ledger which everyone is jostling around with each other on. (It almost touches on it in "Mechanism #3", but not quite).