I was simply listing them as non-present basics that even freshman Walras-Cassel equilibrium models might have. I can&#x27;t just add a homogeneous blob of capital called K because that&#x27;s subject to capital-theoretic criticisms and isn&#x27;t how reality works (see Cambridge capital controversies, Ludwig Lachmann and GLS Shackle). I also can&#x27;t bolt on transaction costs because those are variable and dependent on social institutions or fixed factors, such as property rights and geography.<p>There&#x27;s no way I can encode a dynamic disequilibrating market process in this, and it&#x27;d be a fool&#x27;s errand to treat models like this as having to say anything about real-world policy. Capital accumulation is far too dynamic a process to lead to rich-get-richer outcomes, anyway. See <i>Capital and Its Structure</i> (1956).