Repeated Venmo transactions between a circle of friends to split restaurant bills don't generate any wealth, either.
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Yes they do. Convenience, reduced burden of book-keeping leading to freed up cognitive resources.
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One perspective is that value of a single unit of a country’s currency equals value of every asset divided by units of currency in circulation. When you destroy productive capacity, value of currency declines by a trillionth (decline is spread out among all units).
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Reminds me of the scene in Brewster's Millions where he buys an expensive rare stamp and uses it to mail a postcard.
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But what it represents has shrunk
End of conversation
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Christmas is technically a massive value sacrifice. Just with money instead of burning cattle or whatever. A gift is something you wouldn't have bought for yourself. That means you value it less than the price paid. Value destroyed.
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