Totally agree, there is the endless scope for abuse and corruption in any system.
Martin Kirk
41

GDP measures goods and services. You equate that with measuring “capital”, so your term “capital formation” devolves into the production of goods and services.

When you then tag “capital formation” as the source of all those ills of capitalism that have you so worked up, and with how you have equated “capital formation” with GDP, your argument condenses into this: all the ills of capitalism result from the production of goods and services. That is nonsense.

In fact, “capital formation” is the process of accumulating the capital needed to invest in a production line or a business. Without the formation of capital to invest in entrepreneurship, nothing new would be created.

I really don’t think you know what you are talking about. So our discussion ends here.

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