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by helicalmix 461 days ago
this is not intuitive to me. In your description, it feels like capital more closely resembles carrots then whips?

also, the person's only source of wages isn't going to be specifically making sandwiches for just you, no?

3 comments

Many obligations are dominated in local currency, as such, we must acquire local currency to discharge those obligations.

To a certain extent, being able to rent a flat that someone else has built is a carrot -- a luxury -- but to a certain extent, anti-vagrancy laws mean that there are whips -- consequences -- that I may incur but not having a flat. Social norms are constructed, but they are still real.

I should hope the average Joe is not viewed as a work mule to be compelled to action with whips and carrots.
Whip is a means of signaling and carrot has utility of it's own. That's an important distinction.