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The observation that surface differences in capital sources mask a common structure. Whether capital is philanthropic or public, ethical or commercial, the same pattern holds: exhaustibility, discretion, dependency, substitution risk. Institutional fragility is produced by temporal architecture, not sector-specific failures.
Grant-based philanthropy, short-horizon public funding, project-based impact investment, and sponsorship capital all exhibit the same structural mechanism despite different origins and intentions.
CESIA Section 4.5