Rather it’s neoliberalism, and the challenge we face to overcome it is not insignificant.
Great points, Scott, and I completely agree that it’s not capitalism that’s at fault.
Michael Haupt
1

Michael,

Thank you for the positive comment. Being a contrarian I am going to disagree again. I don’t think neoliberalism is really the problem. It has some real truths at its core.

Here is one:

Scarcity exists and requires trade offs. Choosing to consume more of “A” means less non-A will be available. The exception of course is when innovation allows more “A” to be created using fewer inputs.

Markets force people to acknowledge trade offs, politics does not. Markets also force people to determine their real preferences. Given resource limitations do I want “A” or non-”A”.

Consequently markets are better than politics at allocating scarce resources and determining people’s real preferences.

(I am interested in learning, so if you disagree please comment)

This is not to say that there aren’t problems with neoliberalism. Power and informations issues do exist in market driven systems, just as they exist in any human system including politics. Some agency needs to exist to effectively address these issues.

The need for an independent agency is the real problem we face as humans. We need some way to resolve intractable disagreements without turning to violence and vendetta. Call this agency government, universal courts or philosopher kings.

The problem of course is that government is so easily captured by special interests.

This is why I am so interested in block chain, cryptocurrency and other areas you are commenting on.

I would love to see someone smarter than myself write a post card from the future with the following characteristics.

  1. Massive AI or maybe competing AI models are used to write and propose all new legislation, explaining why the proposed changes are necessary and how the results will be tracked.
  2. Voters get to vote yes/no on the legislation as written and submits the reason why they voted the way they did.
  3. Legislation is implemented or not based on the votes and the reasons behind them.
  4. Voters get regular updates on performance including how those changed with implementation the legislation are performing.

Would this process all for data driven and impartial government? Would people become alienated because it is managed by machines or feel empowered because of the direct democratic process of voting?

Sorry for the long response. Though probably mostly wrong, hopefully you find at least something that is thought provoking.

Thank you,

SMV

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