It is capitalism we’re experiencing, but it’s treating capitalism as the only tool in the toolbox and structuring an entire culture around it.
Markets work great for some things. Not everything. Currency works great for some things. Not everything.
Anonymous transferrable shares of ownership, and all of the abstract financial instruments that spin out of that one simple mechanism… are honestly not very good for many things at all, but they’ve become the primary assets that our economy optimizes for.
It is capitalism we’re experiencing, but it’s treating capitalism as the only tool in the toolbox and structuring an entire culture around it.
Markets work great for some things. Not everything. Currency works great for some things. Not everything.
Anonymous transferrable shares of ownership, and all of the abstract financial instruments that spin out of that one simple mechanism… are honestly not very good for many things at all, but they’ve become the primary assets that our economy optimizes for.
Well, yeah, we don’t want things like healthcare and military defense in the private sector.
Everything in your last paragraph is solved with guardrails. We’re now barreling towards October 1929.