Lets not lose sight of the fact that ‘’excess capital’’ has been with us for millenia. The above article suggests that it is something new. In previous times, the aristocracy creamed off the best of everything, leaving the poor to barely sutvive, and die young in poverty. And breed more peasants of course.
Even the peasants were ‘capital’.
Capital killed our forbears, just as it is killing us. But on a smaller, less recorded scale. Aristos built palaces and castles, leaving the poor to die in hovels.
capital correlates exactly to food. Because food is our prime energy source. Capital is the monetization of energy. The aristocracy of previous times took capital by force, and the best of the food. Hunting for your own food was punishable by death.
Now they take by financial shenanigans, while millions are on food support or actually starving.
You see that the shades of difference are very fine?
The end result is the same. The clever ones win out, the rest of us lose out.
I have managed to acquire sufficient capital to survive, and thrive in a mild sense. But I was never clever enough to acquire vast capital to put me in the millionaire/billionaire bracket. Just average I guess.
Had I been clever enough, there is no doubt that I would have grabbed at the chance to be super or even moderately rich.
But vast amounts of capital eluded me. I wasn’t clever enough to track it down and catch it and use it, maybe just lazy. But I have survived modestly. I eat well
but our compulsion will not cease even though we know the results of excess.
We have pursued excess since the industrial revolution, when the prospect of availability of excess to millions of us became viable.
We all wanted to be aristocracy. It didn’t work. There just wasn’t enough capital to go round