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>High performing participants in the stock market gain more influence in it. This is an optimising feedback loop for the economy and is less fair (but more effe
by naravara 8y ago
>High performing participants in the stock market gain more influence in it. This is an optimising feedback loop for the economy and is less fair (but more effective) than simply giving everyone an equal say in the matter.
It gets worse. They not only get more influence in the stock market, but their access to wealth gives them outsized influence in stuff that has nothing to do with the stock market and where the logic of finance capitalism can actually be destructive to the central mission of the activity.
This happens in government, the arts, the academy, sport, charity, etc. The dominance of business-people in the business sphere allows them to dominate all other spheres despite being manifestly unqualified due to the fact that politics, education, art, etc. operate on different value systems than businesses do.