Totally agreed. For the thought experiment, make the super liberal assumption that most value was produced and realized in the past year (or a single year), and it becomes comparable. Otherwise, the inefficiency is a hard lower limit. So in the extreme case, the lower bound is 5x inefficiency. If we assumed a value equivalent to 1-5% of market cap is realized every year, it becomes 100x to 500x inefficient.
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Market cap has completely different units than GDP - dollars versus dollars per year. Your analysis is pretty much nonsense.
Totally agreed. For the thought experiment, make the super liberal assumption that most value was produced and realized in the past year (or a single year), and it becomes comparable. Otherwise, the inefficiency is a hard lower limit. So in the extreme case, the lower bound is 5x inefficiency. If we assumed a value equivalent to 1-5% of market cap is realized every year, it becomes 100x to 500x inefficient.