At the risk of saying something dumb and meta... it's ideas all the way down (for a really long time now). The individual corporations are ideas, and then of course there's the idea of the corporation itself. As the post notes, corporations only work because of other ideas about property rights and scarcity. But more fundamentally they only work because they're an idea quite a few people already believe in. I'm a lit…
> good ideas that don't make market sense I think this is incorrect framing. You have to shape the market, not the idea. Capitalism’s fault is not accounting for externalized costs, like climate change. The market allocates resources very effectively, but the costs the market uses to allocate resources are lies. They omit costs that producers can ignore or otherwise avoid paying for. If these externalities were captu…
Markets optimize for products. If something can’t be made into a product wherein the full value and cost to society is express captured within the transaction itself, you generally end up with less than ideal outcomes.
Capitalism is the best system for optimizing for productive efficiency, but creating an abundance of material wealth isn’t quite the same thing as making society as a whole the best that is can be.