[rabite]

A fracking rig costs 900k and many of them sit idle for years at a time:

https://www.csmonitor.com/Environment/2022/0415/Demand-for-o...

You are essentially saying that the roughnecks that work the rig for $30-40 an hour should be owning it. They don't have the capital to own it and pay for the oil rights to use it, or the risk tolerance that it will sit idle and still have to be maintained, stored in a rented warehouse, and guarded when regulation does not allow them to be used. Nor is there any evidence they would be able to successfully run an oil company even if they were given it for free -- compliance issues surrounding commodities deals typically require a different skillset than the guy working the rig.

The vast majority of businesses are not software. Virtually all industry has capital outlay requirements and capital risks equal to or greater to this.

[Guthur]

This has been debated for 100s of years and the era of funny money that is created at the stroke of a key i don't see how we can maintain the view that it should be so skewed towards capital.

[rabite]

Shifting away from using capital as the basis for resources allocation has been tried repeatedly and failed catastrophically every time. There's no mechanism than the market better to optimize the problems of supply, demand, and logistics.

However, something should definitely be done about funny money printers. There are plenty of mechanisms in history shown to be successful dealing with them, such as going to where they live and taking care of them in the dead of night. I agree that massive inflation is a serious problem, but the solution is not to say "let's get rid of the utility of money!" -- it is to punish the people subverting market utility for their own gain.

Trying to change reality because a small group of bad actors is absurd. Just get rid of the bad actors.