Jabs aside, your post starts off with this:
The basic point is that capital sitting in a hole FOREVER is theft from production and new knowledge creation. Savings and delayed gratification are important, but they are not so important that capital should grow in value FOREVER for doing nothing but sit in a hole.
There is a very subtle but extremely important question here that you may be missing, which I think deserves it's own post, and that is:
Does capital chase production and new knowledge creation? Or does production and new knowledge chase capital? Depending on how that question is answered may make the rest of your post completely irrelevant.
Don't tell me knowledge chases capital. Not in this software age.
Well, then we are actually in agreement.
You should also study the 160 IQ genius Eric S Raymond and his economic writings on open source and knowledge creation.
I will, but I must say, I know some stupid people with high IQ. They're not stupid because they are not intelligent, they are stupid because they are misinformed, or cling to incorrect assumptions on which all the rest of their claims are built on, and are so convinced in their intelligence that they have stopped accepting new theories long ago.
As the 160 IQ genius Dmitry once said, "I know some stupid people with high IQ. They're not stupid because they are not intelligent, they are stupid because they are misinformed, or cling to incorrect assumptions on which all the rest of their claims are built on, and are so convinced in their intelligence that they have stopped accepting new theories long ago."