squarecuts on Nostr: I’m a big fan of Switzerlands direct democracy approach, but I agree modern ...
I’m a big fan of Switzerlands direct democracy approach, but I agree modern representative democracies tend toward crony, government funded, capitalism. No such thing as too big to fail.
Also agree government are bad capital allocators. Unfortunately, because of 50 years of worsening crony capitalism and elite overproduction (https://en.m.wikipedia.org/wiki/Elite_overproduction) I’m not sure wages are a good proxy for societal value. Consider the value of your McKinsey hack vs a lot of engineers in Australia. Former overpaid. Latter def underpaid relative to value they could provide.
Also agree government are bad capital allocators. Unfortunately, because of 50 years of worsening crony capitalism and elite overproduction (https://en.m.wikipedia.org/wiki/Elite_overproduction) I’m not sure wages are a good proxy for societal value. Consider the value of your McKinsey hack vs a lot of engineers in Australia. Former overpaid. Latter def underpaid relative to value they could provide.