Global finance will eventually be eclipsed by large-scale economic planning systems. It will probably take a couple decades for finance to go the way of alchemy, but the signs of its irrelevance are there: hilarious schemes like SPACs, DeFi, NFTs. Totally divorced from the underlying economics.
Interesting take. I’m not sure many would agree with you. Care to expand or point us somewhere where your ideas are expanded?
I'd be interested too. I've seen takes loosely along these lines before, but my familiarity is pretty shallow and I don't remember specific sources. There's a line of thought that traditional pro-capitalism analysis of the "economic calculation problem" would tell us that a massive corporate retailer like Walmart should be mired in inefficiency compared to retailers with more localized authority (e.g. regional or franchised chains). Since that's not what we see, something must be missing from the analysis. For example, some have proposed that technological advancements (in fields including telecommunications, logistics, and accounting) have made centralization radically cheaper and more effective since the 1980s or so.