Since the foundational work of Farjoun and Machover , important contributions to the field of
probabilistic economy have been made. In this context one naturally has conservation of money as a postulate. However
it is questionable whether a capitalist economy could ever work with entirely exogenous money, and it
is interesting to see to what extent probabilistic arguments can illuminate the evolution of the type of
endogenous money system that characterizes contemporary capitalism.
We first argue, on probabilistic grounds, that a system with a strict conservation law on money was
historically unsustainable. We then make the case that phenomena such as the formation of a rate of
interest, periodic commercial crises, and the formation of a rentier class can be understood using the sort
of reasoning pioneered by Farjoun and Machove
