Sublime

A short-lived capital stock will manifest in accelerated depreciation and a fragile capital structure will incur an undue interest charge.

Second, those who hold return-seeking capital assets but who do not lever up are comparatively disadvantaged if their competitors do.

financial capital, the intangible capital that exists only in law.

Imposing negative interest rates is strip-mining the capital stock.

For centuries, private attorneys have molded and adapted these legal modules to a changing roster of assets and have thereby enhanced their clients’ wealth. And states have supported the coding of capital by offering their coercive law powers to enforce the legal rights that have been bestowed on capital.