If you think of inflation as money supply growth, or growth relative to gold, the economy has barely grown since 1971 when Bretton Woods was ended. However, the economy did grow in gold terms in the period beforehand. Why would that be? Is your theory from a textbook truly applicable or just a way of enforcing the current economic norms that heavily benefit nation states? If you force all assets to go up, you bleed your asset holders via tax as well. They don't want people to believe in ideas that could break their hegemony.

> Capitalism does not guarantee competition (quite the opposite, strong property rights are the nexus of anticompetitive opportunity) which does not remove all profit over the long term

This is a different conversation, regulatory versus monetary. It also weakens your r > g business book pseudoscience argument. I studied economics and finance enough, I don't need some cheap armchair economist slag.

> tax the rich

Nice, if I didn't need any more proof that this is just another diatribe based on another faddish idea about how to fix the economy. Wait, did I say that earlier? Something about how ideas can be used to control the bounds of policy, the Overton window.

I haven't read the source but for one, there wasn't really even a US dollar until 1935. When banks failed, and they did unlike now when they artificially don't, you lost everything. There was no FDIC. All of those mechanisms are artificial and serve to make the banking industry large and profitable.

Not to mention currency debasement, another aspect of the modern world that makes finance uniquely profitable and, really, white collar work existent in any major form at all. It's ingenious. Since capitalism is naturally deflationary, as competition removes all profit over the long term, let's interfere and make it so workers make less money every working day. Hence, in order to make even the same amount of money each year, one has to either rise in the hierarchy, or argue for raises, which is inherently risky.

Basically, before 1935, it was hard to accumulate that much wealth. It wasn't generally backed by any nation state guarantee. Real estate has always been a great store of wealth, but it has physical limitations. The world since 1935 is now a world of nation state wealth guarantees. The only reason this amount of wealth is allowed to occur, is because of it. We took a strange path since 2008, when the banks were not allowed to fail. Everything eventually comes to pass.

Otherwise this happens.

https://fred.stlouisfed.org/series/M2SL

This is the origin of the entire white collar world and all of its odd bedfellows, and it will die in our lifetime. All of our jobs will go with it, unfortunately.

There's like dozens of people in the world that can do these things, and they need to want to use their intellect for such a thing. Unfortunately, communism is just philosophically derelict, until another great thinker comes along.