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Varoufakis misses two key points: - Our crony capitalism is shaped by central regulators, which push the creation of monopolies through favouritism, bailouts,
by jokethrowaway 3y ago
Varoufakis misses two key points:
- Our crony capitalism is shaped by central regulators, which push the creation of monopolies through favouritism, bailouts, pure corruption and public education making employee slaves out of children. I argue most of the largest companies would be network of indipendente providers if competition without regulations existed and VC didn't distort the markets. Monopolies are made by the state and their crooked friends.
- We don't have free will, we never had. We're biological machines with chemical mechanisms which are easily hacked. Our environment, most crucially other people, will shape what we want. Tech doesn't change the dynamics.
The rest is pure nonsense, I was expecting more from Varoufakis.
- over_bridge 3y agoI wonder about index funds as well. How much are we entrenching the top 500 companies by having everyone buying the S&P500? What kind of advantage does number 500 have over 501 just by being included in the index? Companies need to be able to fail and turnover with newer and better ones but the whole economy seems pegged to the biggest ones staying at the top, deserved or otherwise. Should we ban index funds? (spontaneous question, not suggestion)