Liberal and capitalists like to pretend that there is some kind of form of organization or activity, human activity, that is outside of politics. But all you've described is just a way of controlling and organizing and directing labor and resources to a project. To me, itss like these people are parasites. Even people who are in the system with a relatively substantial amount of money pay other people who tell them that they understand the system. Arguably, the financiasnancial crisis happened because those intasd with understanding didn't even sand the full extent of what they were doing. And so that's how financial capitalism works. It connects people that have iron ore and spare time and labor
Transcript
chevron_right
Play full episode
chevron_right
Transcript
Episode notes
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.