Eric Maugendre about emissions @data.yt · Jun 19 Saving (ie. revenues minus spending) does not even come close to explaining the accumulation of household wealth (ie. "assets" and net worth). 🧵
0 likes 1 replies
?
Replies
'Capital' is not money. It is the expectation of obtaining later money from an 'asset'. An 'asset' is a labeled balance-sheet entry – backed against a factory, a flat, a patent, a software (or a combination). Household #wealth mostly accrues from 'asset' creation and 'asset' revaluation: