[inigyou]

It used to be only a few steps removed from actual value. Like an empty lot is worth an amount because when you plant trees it's worth an amount because when it has fully grown trees it's worth an amount because when you cut down the trees the timber is worth an amount. That's an acceptable function of finance, it allocates the value of a logging plantation between several different people who may own it at different times, so that one doesn't have to hold it for the full 20-year growth cycle to realize any value from it.

[Schiendelman]

We needed to develop long-term value instruments to incentivize long-term planning. Bonds are necessary for large public projects, for instance. There are many complexities in deriving instruments from that basic concept. What makes you think a particular one shouldn't be acceptable and why?