Chopping up the future and selling it to rich people is a brilliant way to obtain decentralized skin-in-the-game capital allocation decisions. But then the futu

Chopping up the future and selling it to rich people is a brilliant way to obtain decentralized skin-in-the-game capital allocation decisions. But then the future arrives and it belongs to rich people whose only goal is to squeeeeeezzzzzeee. Capitalism is good at avoiding boondoggles but it's a sucker for asset pumps. We don't have to pay heavy taxes to support a gigantic network of high-speed trains to nowhere but we do have to pay monopoly rents on land, two-sided markets, Metcalfe-law networks, and so on.