Well, you’re trying to create a narrative using your preferred *framing* by sele

Well, you’re trying to create a narrative using your preferred *framing* by selective emphasis, and I’m stating the truth the whole truth, and nothing but the truth. As such you’re the one creating BS. In other words, you’re trying to claim you’re special and people should join your boy’s club instead of some other boy’s club. 😉

Worse, I’m stating that you’re intellectually dishonest, engaging in motivated reasoning, or not very bright, in that given the universality of the power law throughout man, nature, and the universe, that the Pareto distribution not only WILL occur, but MUST occur, and there are no alternatives.

And you clearly don’t understand the incentive problem or how the hierarchy of credit money solves the incentive problem regardless of whether you bias a mixed economy in favor of maximum insurance (democratic socialism) or maximum independence (capitalism). PS: it doesn’t matter what socialism and communism or libertarianism promise because they violate the power law, and destroy incentives and competitive capacity.

What you are correct about, is that only the state should issue all credit money, and in doing so capture the returns as income, since it’s lending on the productivity of the people, and insuring the spectrum of cooperative activity of the people. Furthermore that there is no logical reason for consumer credit and interest higher than the rate of inflation. These two changes would result in a financial sector that could not seek rents, and must increasingly focus on longer time horizon investments with larger returns, which has until recently been accomplished by the military, and of late has been increasingly taken over by a small number of people (Musk) who are doing that governments and financial sector should be doing – investment – rather than rent-seeking.

It’s not useful to try to be smarter than I am. It’s unlikely to succeed. We all make mistakes (slights). I don’t many many errors (computations.) Though clarification, scope, and emphasis are always useful and appreciated.