Upvoted, and I disagree. Some kinds of capital maintain (or increase!) in value. Other kinds become cheaper relative to each other. The big question is whether and how property rights to various capital elements remain stable.
It’s not so much “will capital stop mattering”, but “will the enforcement and definition of capital usage rights change radically”.
Upvoted, and I disagree. Some kinds of capital maintain (or increase!) in value. Other kinds become cheaper relative to each other. The big question is whether and how property rights to various capital elements remain stable.
It’s not so much “will capital stop mattering”, but “will the enforcement and definition of capital usage rights change radically”.