It took me a while to get it, but this all works in the opposite direction as well.
The time value of money can be negative: A dollar today can be worth more than a dollar tomorrow.
It's not pretty. When the pie is shrinking the incentives get ugly rapidly.
Let's hope this can be a "good" deleveraging, we fix metrics that don't positively correlate with non-zero-sum productivity growth, and on top of that pull the next rabbit out of the hat where we can keep exponential growth happening for another cycle (spacex, EVs, etc).
Otherwise, we'll be fighting over a shrinking pie, which is nature's way of adjusting the population to the modified carrying capacity.
The time value of money can be negative: A dollar today can be worth more than a dollar tomorrow.
It's not pretty. When the pie is shrinking the incentives get ugly rapidly.
Let's hope this can be a "good" deleveraging, we fix metrics that don't positively correlate with non-zero-sum productivity growth, and on top of that pull the next rabbit out of the hat where we can keep exponential growth happening for another cycle (spacex, EVs, etc).
Otherwise, we'll be fighting over a shrinking pie, which is nature's way of adjusting the population to the modified carrying capacity.