The Pain You Feel is Capitalism Dying

[ronnie624]

73. An interesting excerpt.

Money acts as a mutually agreed-upon intermediary between everyone in a society, representing the relative value of the claims of ownership of items that are offered for exchange. It is like a formalized, but anonymous, handshake as in the barter system. Because everyone accepts money as being a valuable thing to receive in return for giving up ownership of something real, you accept what is otherwise a worthless token, from some stranger you’ve never seen before, in exchange for something useful because you know that in the future you will be able to trade it in for some other real item of value that you want. You don’t know exactly what you will want or when you will want it, but you accept money as a representation of the wealth that you could own. So at its core, money is simply a symbolic representation of ownership, a non-specific claim over real world goods, services, or rights that hasn’t been exercised yet; the ownership is hypothetical.

[center]◇◇◇◇◇◇◇[/center]

So from the above it becomes clear that all of the claims of wealth that money serves as a proxy for basically just boil down to claims on human labour, and by extension all of the ecological production that went into supporting that labour, since that is where the vast majority of all this stuff and energy come from that enable these goods, services, and rights to be “produced”. So to state it once more: money is a claim on ecological production, and specifically on how that ecological production is turned into useful or enjoyable things or services for us, via our brains, bodies, and machinery.

https://markbc.net/doomer-economic-commentary/thermodynamics-for-economists/

The concept of wealth implies growth in value beyond that which exists in the physical universe in the form of usable energy or goods and services. Since value is directly related to a given quantity of resources and energy, and creating matter and energy is at odds with the Laws of Thermodynamics, it logically follows that creating wealth is impossible.

It's helpful to keep in mind, that we never create. All we are ever doing through our economic activity, is converting and dispersing energy, and in the process, we will always sustain a net loss.