Liberal capitalism has led to a society where most jobs are probably useless

submitted by casparvoneverecBig tiddy respecter from self.debatealtright

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[–]LetssavethefirsworldReturn to Jesus 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

The amount of anti finance rhetoric on this sub is apalling.

Financial analysis help to allocate capital properly. They assess risk of corporations to price in the possibility of default in their loans- loans absent of usury. I agree this system is extremely bloated, but largely due to regulatory compliance, and mega corporations due to bailouts.

In a better world the financial sector would have a few small banks in every city and they compete to loan capital at the lowest rates they can by assessing risk of the loanee. These banks would have small hr departments due to low employment regulatory burdens and low employee count who have a strong relationship with the owner. These financiers would actually be providing value because they would work to set the prices for loans.

Unfortunately we won't ever get there because defi is going to kill non real estate loans. It's going to be too easy to get capital at reasonable rates, and increased compute power is making startups cheaper to run

[–]EthnocratArcheofuturist 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

Libertarian nonsense.

[–]LetssavethefirsworldReturn to Jesus 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

I hate libertarianism. This has nothing to do with anti government bullshit. I have non libertarian friends who work in these fields and they see the same problems and agree with these solutions