2/ Or put it another way, Gemeinschaft offers -ve interest rate on social capital store, thought it can seem +ve due to creation>destruction
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Replying to @vgr
3/ Gesellschaft stores can not only offer +ve interest when well conceived, they can also support exchange to/from financial capital
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Replying to @vgr
4/ But when trust in such institutions is at a historic low, financial capital stays trapped in its own world
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Replying to @vgr
5/ Why are we unable to invest huge $ surpluses in things like cities, educational institutions etc. like VCs in startups? Low trust
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Replying to @vgr
6/ Low trust manifests as expectations that exchange-investments from financial to social capital conform to financial capital dollar ROI
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Replying to @vgr
7/ This is deeply silly. Part of the *point* of social capital is as a hedge/alternative to financial capital as a store of value
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Replying to @vgr
8/ To take this expectation of "ROI" seriously and try to tightly instrument and control performance of "social capital investments" is dumb
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Replying to @vgr
9/ Instead, the key is to invent new social capital institutions that inspire sufficient trust to attract financial capital
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Replying to @vgr
10/ This means central challenge in the design of any institution is to model how it stores social capital and generates a social ROI, not $
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Replying to @vgr
11/ When this works, the benefit to the financial capital system is not in the form of a reverse exchange, but in the form of trust
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12/ A financial capital sys backed by strong social capital instis will inspire more trust in competition with *other* financial capital sys
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