Capitalism doesn't produce results organically out of magic. It allins incentives in a certain way, and it produces things. You see what happened to the soviet union. They stagnated. And ecaus i think it it basically just like a sports league. If you don't expose yourself to competition, you will eventually atrophy. That's the question. How do you actually do it? I'l tell you, wut.
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As a $60 billion a year investment bank engaged in market making and asset management for equities, fixed income, commodity and derivative securities for large institutional clients, Goldman Sachs, having been founded in 1869, is arguably the world’s most recognizable name on Wall Street. Known for attracting some of the best financial talent, it is both respected and feared, in some cases being accused of “ripping their clients off” in the relentless pursuit of profits. Defenders of firms like Goldman Sachs make a big deal about how they’re instrumental in the efficient allocation of (financial) capital, but one could argue the concentration of highly intelligent and motivated individuals operating what amounts to a glorified casino is a gross misallocation of human capital, robbing other critical sectors of talent that would otherwise have gone to engineering real solutions, not financial ones.
