The Jevons Paradox of Capital Liquidity High-Fidelity Asset Turnover and the Stagnancy Penalty in Agentic Environments

This paper introduces the Jevons Paradox of Capital Liquidity (JPCL), providing a novel theoretical framework that explains the structural shift in capital efficiency as it migrates from legacy "batch-processing" systems to frictionless, agentic environments. While traditional monetary literature focuses on M1 velocity as a passive proxy for economic health, this research identifies a fundamental divergence between Duration-Based Yield and Throughput-Based Efficiency. By formalizing the "Stagnancy Tax" through an Average True Range (ATR) harvesting model, the study contributes a mathematical basis for the relative devaluation of "idle" capital in high-velocity substrates. It challenges the established primacy of the Risk-Free Rate by arguing that in a zero-friction economy, capital neutrality is no longer a function of time, but a function of motion. This work is an essential contribution to the emerging fields of Agentic Macroeconomics and Deterministic Treasury Management, offering a predictive lens for the inevitable repricing of legacy financial instruments.