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The Hardest Thing in the World
(lemmy.world)
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this post was submitted on 16 Sep 2023
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There's actually a stunning amount of simple hoarding of cash. It's a major contributor to economic stagnation:
https://psmag.com/economics/one-percent-stop-hoarding-much-cash-84996
https://insight.kellogg.northwestern.edu/article/companies-hoarding-cash
https://pitchforkeconomics.com/episode/the-velocity-of-money-with-ann-pettifor/
[me having a flashback to 2015 when I argued that low velocity of money was going to be a major killer of Western economies if nothing changed]
GOD I HATE BEING RIGHT
I've made an argument previously that the real estate market needs to be tanked, with no corporate ownership and a limit of 1 property per person and essentially an abolition of rent through a forced auction pool and no deposit finance. But that is not the point...
A big part of my argument is that we need to move investment from "asset" ownership to corporate ownership - ie make the only viable investments in business and startups, thereby providing jobs and forcing risk on to the wealthy. This gets money moving and pushes up productivity, advancing the human race
It's money management. Some percentage of wealth in different risk/growth classes and some kept liquid to profit on ~~tragedy~~ opportunity.