Earlier quoted context omitted.
Can you please dig into this more deeply or suggest somewhere in which I can read more?
Money is an IOU; debt. People trade things of value for money because you can, later, call the debt and get the exchanged value that was promised in return (food, shelter, yacht, whatever) I'm sure this is obvious. I am sure it is equally obvious that if I take your promise to give back in kind later when I give you my sandwich, but never collect on it, that I ultimately gave you my sandwich for free. If you keep col…
Even if they never spend that wealth on luxury, they use it to direct the flow of human effort and raw materials. Giving it away for free would mean surrendering their remote control over global resources. At this scale, it is not about wanting more stuff. It is about the ability to organize the world. Whether those most efficient at accumulating capital should hold such concentrated power remains the central tension between growth and equality.