Earlier quoted context omitted.
I would love to see the data, but from the data I have seen, the data conflict with the popular (populist) narrative. A lot of people in America seem to believe that the hardworking "real Americans" in the middle of the country are subsidizing the poorly-run coastal liberal enclaves. In reality, the money almost always flows in the other direction; taxpayers in cities are subsidizing the rural-dwellers. This has noth…
I think the reason they think it's subsidizing the rich enclaves is because they believe the rich enclaves aren't really working - they're just generating revenue from information advantage. We're just building systems of control and making money from it. Compare that to them cleaning out a grain cart or chopping up a 300 pound pig. What is work? And why did I make nearly $300 today vs them who will make $300 for tha…
Effort has little to do with value. Utility also has little to do with value. See the diamond/water paradox for that second part.
There are certainly abuses in our society, rent seeking and outright fraud exist. But this childish rejection of capitalism that’s become trendy lately is tiresome. Capitalism is a technology that lifted billions out of poverty. Brilliant, earnest people (as well as some very evil people) tried alternatives in the last century and they failed horribly. No one has proposed plausible alternatives.
By all means we ought to couple capitalism in the private sector with a robust public sector, but to be against capitalism at this point is to be against human flourishing.