It's because of maldistribution. There is soo much slush cash in the hands of few that many markets are no longer real markets or efficient.https://twitter.com/willoremus/status/875739683686363136 …
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Replying to @zeynep
Too much money with nowhere to go held by very few, so crazy valuations, juicero, Mars trips—some innovation and philanthropy for the ride.
1 reply 34 retweets 62 likes -
Replying to @zeynep
None of this can be explained by efficient markets, but can all be neatly explained with maldistribution—underlying political crisis, too.
1 reply 8 retweets 42 likes -
Replying to @zeynep
A good chuck of the crisis could be solved with sane taxation, and mild rules against regulatory capture, monopoly and buying politicians.
1 reply 8 retweets 53 likes -
Replying to @zeynep
And, hey, your extra billions are mere zeroes in a file when the climate change we can't act on due to pol crisis comes for your grandkids.
5 replies 9 retweets 34 likes -
penalize carbon, subsidize renewable, real support for whom the transition makes life unaffordable. Do this till better equilibrium.
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