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by voldacar 1183 days ago
So by capital destruction you're referring to shutting down large sectors of the economy due to the coronavirus? Or was this already taking place before 2020?

I didn't think you were referring to a conspiracy. I just didn't know what you meant, since if you have capital, it's not really rational to destroy it

1 comments

Right. But, more than that, I'm talking about the fallout of shutting things down—of breaking the chain of production—and then the difficulty of starting things up again.

I was horrified when things got shut down. Even when I originally bought into "two weeks to slow the spread" and believed it was only going to be for two weeks, I was concerned that a global, advanced division-of-labor economy cannot be switched on and off like a lightbulb.