0 sats \ 3 replies \ @btcthinker 23 Aug 2023 \ parent \ on: Which tax rate do you consider "fair" and would pay? bitcoin
In fact, yes, because earning power affects capital accumulation, and capital accumulation affects earning power. This is an interactive effect, and finally capital will be concentrated in the hands of the most profitable people.
This is an economy of scale, yes. There are also the less talked about but equally important diseconomies of scale, reducing efficiency as scale increases. Comparative advantage means there will always be a distribution in who the most efficient at producing goods; when combined with opportunity cost, even if I am more efficient at making widgets and picking berrys I will still pay you to do one or the other, because my ability to do both is constrained by my capacity for labor or organizing capital, simply having lots of capital does not mean I can efficiently organize it.
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You are right, but how can people accumulate capital effectively if they have no earning power? This is a trap, and everyone falls into it by reading too much. Value is accumulating efficiently because of capitalism on someone who has the ability to make money, and the money that others think they have earned is rapidly losing value. Because the capital is now very large and very hungry.
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Can you rephrase that? I'm not following. Its not capitalism if you are forced to use a certain currency, right off the bat 50% of basically every transaction is currency, so if someone is forced to use a specific currency then it is not voluntary and this not capitalism.
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