I really like this analysis, it helps answer a few questions I've had for a long time, on the apparent disparity we see evident, between the physical system of energy, which does seem mathematically linkable to our concepts of the thing we call "Value", which is unrelated to profit, and the way we almost accidentally use money to do the very necessary job of transporting physical energy to all humans, at least those who get enough to survive and flourish.
As you rightly point out, unregulated capitalism is physically unsustainable. So we have to find a new way of thinking about this, including questioning where pseudoscience seems to have become like science, so as to disconnect our seemingly scientific, mistaken ideas about the way money works, so as to actually link money into the real physical energy system of nature, as looks necessary to bring the way our economy works into something sustainable.
This also helps me personally understand the value of philosophy, where it goes some way towards distancing itself from what sometimes seems like the pseudoscience of economics.
Actually when money does become directly linked to nature, as I believe is necessary for our survival, as seems to now be even forced, by nature, the subject of economics will itself become tied into the physical world, forcing it's adherents to adopt the rigorous methods we have to use in the physical sciences, with the result that it will actually become part of physical science, and be fully worthy of that reputation, which will do the image of it a lot of good, I think.
Further, I think you even helped identify what might be explained is a blowback effect on science, where it itself has drifted slightly into the pseudoscientific domain, an example being the big bang theory, which still might or might not be true, but is already treated like proven physics, yet we can see where some scientists, say for example depending on income from articles in Medium, published under a catchy name like "It started with a bang" become a little dependent on revenue from such articles, after a while this actually far flung theory becomes pseudo truth, because it has to, to continue making them some money.
The whole idea that anything that makes profit is physically validated by just being profitable, has to be questioned, I think, but the momentum of herds of investors looking for safe investments is a formidable force. The only thing likely to defuse their enthusiasm for ever more investment in things that ultimately are logically unsustainable, is financial compensation, for the loss of the value of their capital, which has to happen in the presence of abundant free physical energy, we all have to understand, that the only way to monetise that energy and the economic product created by it, which is coincidentally good for the planet and fully sustainable, is massive issue of continuous free money for all.
In this way money will become something expressing real physical energy, aligning also with what we see is value.
I think this is the reason we saw the value of massively issued money during covid go up, not down, contrary to what conventional economists had warned, because there was unmonetised economic product created historically, the free money issued was simply reflecting the unmonetised solar product.
Most controversially, it looks like Ai might be the perfect grand controller, needed to regulate the issue of money by monitoring the needs of all people, and delivering to them / us the optimal level of funds / UBI to maximise the value we add to Earth, even by just being consumers of solar energy.
This is the thing conventional science, always aware of how conventional economy works, struggles with, the fact that consumption of solar energy alone, doing nothing else of note, is itself a valuable activity, subtracting from the damage done previously by consumption of energy extracted from Earth.
Sounds religious, and I've even painted it as this myself in frustration, yet it isn't, it is hard physical science, proven by analysis of measured data.
Thanks for posting Ben.
Thanks for posting!