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" ... But what is it that we all do with our human capital? We live off renting it out. We are rentiers of our own human capital. At least one of the things a professor gets paid for is that he's got a PhD and won the competition to become a professor. A substantial portion of his income comes from that very rental of his human capital. And this is true of any professional. Heck, it's true of anyone making anything much above minimum wage. Our training, our ability, is exactly that, our human capital. We are thus, as long as our job choices extend beyond scrubbing toilets or flipping burgers (and please wash your hands between changing such jobs) all rentiers off our human capital. ... "
" ... So let me continue right away with my conclusion. Crypto is a huge creator of wealth that is doing an end run around all those rent-seeking “rentiers” who slice and dice us all to death. Because of this avoidance of such rip-offs, or shall we call them depredations, the process showers the early adopters with money. Let’s hope this is an unstoppable process because if it is, it will generate vast wealth by amputating the guilds, cliques and oligarchies that siphon off the wealth of the world for themselves by dint of the currently inescapable structure of human society. ... "