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I think you've overstating the efficiency in this investments economy, along with overlooking the negative externalities. How much was thrown away? 6 empty hous

I think you've overstating the efficiency in this investments economy, along with overlooking the negative externalities. How much was thrown away? 6 empty houses per homeless person. Why instead of updating AIM/ICQ for Android/iOS and business usage, they were abandoned and new investors replaced them with several Electron based permanent MVPs? There's entire industries dedicated to creating fake demand for high margin items, then there is also people buying things just on speculation that it could be worth more later. Its incredibly inefficient and wasteful. Who pays for the smog from coal? Our lungs do.

CryptoPunk 9y ago
First of all, pollution has nothing to do with what I'm talking about. It is an act of public property damage that ought to be punished. If it's not punished, we get negative externalities. As for efficiency, you're overestimating how efficient political establishments can be in comparison. Just because a plan calls for the government to act efficiently, in the interest of the public, doesn't mean that this is what actually happens. All of the tendencies toward waste and corruption seen in the market are manifested in politically appointed institutions as well. Private sector investment has been demonstrated to be the best way to increase productivity, and to be far more effective than politically directed management of economic assets.