John Brodix Merryman Jr.
1 min readJan 25, 2021

--

The difference between markets and capitalism is that markets need money to circulate, while people see it as the signal to extract and store.

Contrary to Econ 101, a store and a medium are not easily interchangeable. For example, blood is a medium, fat is a store.

While money functions as the contract enabling mass societies to function, people see it as a commodity to mine from society. Since it is a contract and the asset is backed by a debt, our national religion of worshipping the accumulation of money requires an economy primarily designed to generate debt.

One way is squeezing money flowing through the regular economy, forcing it to run on debt and draw that saved money back into circulation. Which sets up a centripetal effect, as positive feedback draws the asset to the center, while negative feedback pushes the debt to the edges.

The other primary method is having the government as debtor of last resort. The capital markets couldn't function, without the government borrowing up trillions in surplus invesment money. The wars are just a way to make it go away, so more can be borrowed.

--

--

John Brodix Merryman Jr.
John Brodix Merryman Jr.

Written by John Brodix Merryman Jr.

Having an affair with life. It's complicated.

No responses yet