The concept of “capitalism” and “market economies” is philosophically pleasing to me.
But when I look at the world today, I think those concepts have created a bad situation. Hey, communism and central planning are much worse. But I think the idea of people striving to be rich and using money to make money may have gone further than most of us expected.
I’m not sure how it can be fixed, but I think manipulating billions and trillions of dollars is something which inherently gets The Powerful thinking of ordinary humans as nothing more than ants.
We don't have capitalism. We have state-direct, fiat-money cronyism.
Is there any way that anti-trust law could apply to this problem? If the same handful of large investors have majority share in all these huge, economy-dominating companies, could this group of investors count as a trust, in violation of U.S. law?
You’ve likely never experienced capitalism or a market economy. At best a semi fascist planned economy. An economy where the government is an active participant and rewards done and punishes otters has nothing to do with the market or capitalism.
HFT is a crock of shit as well.
Our brightest minds are coming up with ways to speed up the transactions, probe for price changes, and write better algorithms.
Imagine if these people were doing something truly productive...
Business or government.
None of this works without morality. But then again without morality it probably shouldn't be called capitalism anymore. What we have today has been perverted and re-perverted and re-perverted again for over 100 years by the progressives and is much closer to a social democracy than it is capitalism. You're right to dislike it, just know what is that you're disliking.
You might want to listen to this.(text)
https://librivox.org/the-theory-of-moral-sentiments-by-adam-smith/
Agreed.