In this chapter of "Fiat Ruins Everything", by Jimmy Song, and connecting this to what Saifedean Ammous always puts attention to: that 'Division of Labour' is the backbone of a capitalist free market economy, which results in prosperity and progress for a civilization.
It suddently "clicked" to me:
in a fiat economy, the incessant need of "re-investing" your capital in order to protect it from constant depreciation severely attacks the Division of Labour, as you have to
1. divest/dilute your attention and split your specialization efforts from your current endeavor/career, or 2. even worse, you have to outsource your financial decisions to a so called advisor/broker/family office with all the risk, fees and unproductive capital allocations that occur bc of this.
By itself, this is a regressive force for society, without even taking into account what continuous cyclical market crashes do to so many once productive actors of the economy and some of them never recovering.
