>The number of people making the decisions doesn't matter. Democratize things as much as you want and you'll often get irrational choices. Of course you will.

>The number of people making the decisions doesn't matter. Democratize things as much as you want and you'll often get irrational choices. Of course you will. The point about the greater fool theory is that the market system for equities generates a negative feedback loop rather than being dampened by rational actors in the system. This perpetuates an enormously wasteful misallocation of resources. >I guess capitalism is flawed because resources are not infinite? Is capitalism flawed because humans die? Something tells me that if I were talking about the soviet shoe factory principle you wouldn't be so eager to excuse socialist misallocation of resources. Could it be that your argument is based more upon tribalism than logic?