The premise of capitalism is simply that markets are an economic ecosystem, in which the various players/organisms rise and fall according to abilities and conditions.
The flaw in the logic is that if the medium enabling markets is privately managed, we are all tenant farmers to the banks.
Modern economics and bacteria operate on the same infinite growth formula. The problem is when they hit the edge of the petri dish, or the resources.
The advantage of multicellular organisms is being able to sense and navigate these conditions.
To the extent societies are super organisms, governments evolve as the nervous system, while money and banking function as blood and the circulation system.
As cells within these bodies, people tend to resent the powers of government, while fawning over the possibilities of money
We have evolved enough to understand the function of government is the health of the entire society, not just the accumulation of power by those at the center. As such, it is a public utility.
Yet have not yet reached the point of realizing the same principles apply to banking.
As these linear, goal seeking organisms in this cyclical, circular, reciprocal, feedback generated reality, people see money as signal to save and store, while markets need it to circulate. Consequently Econ 101 refers to it as both medium of exchange and store of value.
In your body, blood is the medium, fat is the store. They are not synonymous.
Roads are a medium, parking lots are a store. If we treated roads like we treat money, everything would be paved over, but we would still be fighting over the lots.
Essentially money is a social contract, think community tokens, that enable efficient transfer, but we treat it as a commodity to mine from the economy, requiring ever more to be added and ever more precarious methods of storing what has been extracted.
As a contract, storing the asset side of the ledger requires a debt on the other side. Coincidently the one thing the flunkies allowed in DC are really good at, is running up the public debt the banking sector needs to grow metastatically. Basically the secret sauce of capitalism is public debt backing private wealth.
When that bubble bursts, as it has done in many countries, the consequence is called, "disaster capitalism." Basically the ones holding the debt insist on being paid in public assets.
The fact is that as a medium, we own money like we own the section of road we are on, or the air and water flowing through our bodies. It's not our picture on it, we don't hold the copyrights and, most importantly, are not individually responsible for its value, like a personal check.
The idea that hundreds millions of people can work collectively, then try to turn around and save individually, has been the greatest con of all time. Especially when its denominated in the tokens that enable a functioning economy.
The banks are having their, "Let them eat cake." moment.
