Two economists just modeled what everyone feared: rational firms will automate past the point where workers and owners alike end up worse off. They found exactly one fix, and it needs an authority that doesn't exist. The real answer was never a tax. It was an architecture where the value never leaks.

Industrial economies didn't circulate value by design — labor forced the loop closed. AI removes that constraint. When value exits permanently, systems hollow out. Circulatory Finance is the mechanism that prevents structural leakage by returning value through the people and assets that created it.