It brought up the invisible hand. But who does the invisible hand calculate for? My claim is that when a money printer exists, it calculates primarily for the people with the money printer. Sure a network of productivity is needed to do that, and people that form the edges and nodes of this network can benefit too, in so much as they contribute, often very indirectly, to a network whose primary calculation is to engross those with the money printer with more power and control.
If we had natural money, the invisible hand would calculate for the people. This is why before we got off the gold standard, technological improvements were correlated with growing the real wealth and income of average workers. And why since we got off the gold standard, technical improvements have not improved real worker income.
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It brought up the invisible hand. But who does the invisible hand calculate for? My claim is that when a money printer exists, it calculates primarily for the people with the money printer. Sure a network of productivity is needed to do that, and people that form the edges and nodes of this network can benefit too, in so much as they contribute, often very indirectly, to a network whose primary calculation is to engross those with the money printer with more power and control.
If we had natural money, the invisible hand would calculate for the people. This is why before we got off the gold standard, technological improvements were correlated with growing the real wealth and income of average workers. And why since we got off the gold standard, technical improvements have not improved real worker income.