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Capitalism is not any more at fault here than GPUs or math. Yes, the right regulations are indeed vital for a capitalistic system. Saying "capitalism will crea
by kspacewalk2 4y ago
Capitalism is not any more at fault here than GPUs or math.
Yes, the right regulations are indeed vital for a capitalistic system. Saying "capitalism will create abuse and problems without regulations" is like saying "cars will cause death and destruction without a steering wheel". That's why we don't build them without steering wheels, and a car without a steering wheel is not really a car.
A financial market is a market, the very word "market" necessarily implies regulation, like all markets had since the dawn of time (it's why you brought your stuff there, and why the customers came). If a new technology creates a new niche in the financial market, and regulation has not caught up yet, nothing is wrong with the concept of capitalism, the problem is that regulation has not caught up yet. And now it largely has, and these companies are blowing up, and the system works. Not sure what is supposed to make us "discuss deep changes in how capitalism functions" if how modern capitalism functions is fixing the problem.