I gotta speak up for capitalism here (which is mostly a glorified lifehack about how to allocate material resources). It has no chance to work when the "market" is a few hundred investors deciding what to fund based on pitches. WeWork is a classic failure mode of central planninghttps://twitter.com/The_Law_Boy/status/1186643884547493894 …
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Glib one-liners aside, I think prescriptivist arguments about how capitalism should function are less useful than the descriptivist ones about how it is actually operating in practice. The VC funding is coming from within the house, so to speak.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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There are many contexts in which the free market is the wrong approach: health care, environmental regulation, product regulation (heavy metals in your child’s food, anyone?), gun control, .…
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Yeah, that's why I called it a kind of glorified lifehack. You need a lot of rules and safety barriers around free markets to have a livable society, but they can be a useful tool for matching what people make with what people need.
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