The fact is that assets are ‘created’. Many are synthetic. They transfer value, nonetheless.
And it can be said that the creation of these ‘assets’ is now the focus of modern capitalism.
This then defines modern capitalism as a mechanism for rent extraction, and not profit-making.
And what that means is that value creation has ceased to be what markets are about.
No wonder we are in the end-times for neoliberalism.
So says the man who desires to create a new class of assets – green bonds.