Bitman on Nostr: This business of measuring economic health by income or financial transactions is the ...

This business of measuring economic health by income or financial transactions is the most idiotic thing in the world, a Keynesian and post-Keynesian thing.

This metric only measures flow, when true wealth is stock. Wealth is savings and capital, that is, stock. Income and expenses will only measure whether this stock is increasing or being wasted.

You look at any economic statistics today and they are just cash flow, income and financial movement. They say nothing about capital accumulation or the financial sustainability of accumulated capital.