2 ms·
Taxing success is part of what got us here. We let these rogue optimizers get really big because of this dumb theory that everyone can somehow automagically ben
by advael 5y ago
Taxing success is part of what got us here. We let these rogue optimizers get really big because of this dumb theory that everyone can somehow automagically benefit from these entities that accumulate massive power and influence. What actually happens is what always happens in such arrangements: When the entity gets powerful enough to ignore or alter the deal, they will, inevitably, whether that deal is taxes, checks and balances, or being subject to any sort of market forces, like there being competition in your market or consumers caring about (and being able to make choices about) the quality of good or service you are selling them. Risk-aversion means that such entities will try to insulate themselves from threats to their power by whatever means they have available, and we have seen time and time again that this includes subverting all the high-minded idealism of both democracy and free market economics.