Comment by JumpCrisscross
2 days ago
> completely ignores the coercive law of competition
Not a forcing function unless you’re levered. Competition can’t push your return on a productive asset below zero (by definition), just lower by increasing the value of said asset while reducing the cash flows from it.
`Not a forcing function unless you’re levered`; but every one is levered, you aren't born with all the housing, food, and water you'll need for the rest of your life. Everyone is born with a net negative of the necessities of life, the difference though is that a very small minority are bequeathed this by well heeled ancestors. But for the overwhelming majority there is a life long struggle to afford to live a suitable life.
> but every one is levered, you aren't born with all the housing, food, and water you'll need for the rest of your life
This is not leverage.
> Everyone is born with a net negative of the necessities of life, the difference though is that a very small minority are bequeathed this by well heeled ancestors
By your definition, no, they too are born in entropic deficit, it's just satisfied immediately by their parents. (This is how humans work.)