In this paper
I may choose between a job that offers $\$12,000$ per year, and another that offers $\$2,000$ per month. Let’s say the jobs are identical in all other respects: I would then choose the one that pays $\$2,000$ per month — not because $\$2,000$ is the greater payment (it isn’t), but because the payments correspond to a higher (additive) growth rate of my wealth.
Isn't the example supposed to work with $\$1,000,$ not $\$2,000$? Otherwise it is a greater payment, isn't it? $\$24,000$ versus $\$12,000.$