You're exactly right about that correction. I was speaking a bit too loosely. What we actually say is that value after is expected to be greater than value before, otherwise the parties involved wouldn't agree to the transaction. People can, of course, misjudge these things and end up regretting a decision.

Undisciplined

central insight of economics is that in every voluntary interaction, total value before is less than total value after.

Is this always true? I doubt it. People make mistakes. Value is lost at times. On the whole we see free markets increase the size of the pie. Its not zero sum. I'd love to hear Saylor asked questions like this.

bitcoin

What is the issue with Michael Saylor's Bitcoin is "Digital Energy" Idea

kepford

Hold up...

> central insight of economics is that in every voluntary interaction, total value before is less than total value after.

Is this always true? I doubt it. People make mistakes. Value is lost at times. On the whole we see free markets increase the size of the pie. Its not zero sum. I'd love to hear Saylor asked questions like this.