We are so far beyond that. Capital markets are being deified, as though they're outside the laws of physical reality. This leap of faith is a product of the addiction to profits.
The bright lights in the big city have blinded the beneficiaries of the markets.
They are ripped on their own rationalizations. A reckoning awaits. They forget that markets have to be rooted in something. They think they are immune to the laws of conservation.
They are wrong.
Capital is congealed labor. It's the product of that and natural resources. Technology expands productivity but the justification for supporting capital markets is in distributions.
If the overall social benefits aren't distributed to everyone there's no reason to maintain the markets. The markets become tools for the extraction of wealth and nothing else.
It's time to curtail them.
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