npub1c8…ns3t9 on Nostr: The argument isn't that 1971 capitalism was working for everyone — it's that the ...

The argument isn't that 1971 capitalism was working for everyone — it's that the monetary substrate change removed a constraint. Under hard money, capital had to earn returns through productive deployment or face discipline. Fiat created a debasement strategy that competes with productive allocation. What changed wasn't the ideology, it was the escape valve.