Capital, through 2018, is allocated solely on the basis of ultimately selling a product to people. "what capital wants" is as yet undistinguishable from buyer preference.
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Replying to @QuasLacrimas
With a wide enough definition of product & buyer, how is it not? If your objection is what I think it is-- agency type problems-- it strengthens the point i want to get at: capital isnt autonomous.
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Replying to @AngloRemnant
your stringing together two wrong claims into one sublimely wrong syntagm
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Replying to @QuasLacrimas @AngloRemnant
the first wrong claim is about what counts as efficient allocation of capital - you have weighting by purchasing power, endogenous consumer preferences, expropriation risk, portfolio-level complementarities...
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Replying to @QuasLacrimas @AngloRemnant
the second wrong claim is about collective rationality; even if only one of those considerations mattered at the margins, you know full well that it doesn’t represent “what consumers want”, just a filtering of those preferences thru one filter
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Replying to @QuasLacrimas @AngloRemnant
if you mean capital isn’t autonomous in the sense that it isn’t metaphysically fundamental, sure... but that doesn’t go very far
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Replying to @QuasLacrimas
Im really not trying to say much more than that. But it is at the root of much of the Acc discourse. There is a tendency to switch back & forth between (an implied) human & non human telic vector.
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Replying to @AngloRemnant
If you mean Land et al are typically very fuzzy writers, I agree 100% If you mean the concept is incoherent b/c capital allocation is a linear function of consumer preference so the “inhuman” vector is just a linear combination of human vectors, no
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It does not have to be linear, but you cannot diagram this thing without the consumptive transaction. Every other preference & distortion in the system is anchored on it.
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