Originally Posted By: sinij
Originally Posted By: Derid
I think what sinij was referring to was the fact that in its proper form, venture capitalists/banks perform a vital service - they basically produce "opportunity".


While my post didn't go into "proper form", above agrees with my point of view. Investment is absolutely necessary for properly functioning economy, but don't confuse it with high-speed trading, hedge funds, naked shorting, derivative markets and number of other "money games" that compromises the system by artificially inserting middle man. This is even before you take into account cronyism and other abuses of political system Derid mentioned. As I said many times before - capitalism is inherently self-corrupting system with concentration of wealth being key corruption vector.


I would say it is corrupting when the Fed Govt becomes too labyrinthine and opaque to provide any sort of real accountability.

The wealth concentration in this country has occurred in parallel to the increasing size and expenditure of Govt and increasing power and lessening accountability of the Fed. Normally this type of wealth concentration cannot occur in a free and competitive market, it happens when the govt is underwriting/aiding certain insider groups.

Capitalism may be self-corrupting, but so is every single political and economic system known to man. So mentioning Capitalism in particular is rather disingenuous.

For who could be free when every other man's humour might domineer over him? - John Locke (2nd Treatise, sect 57)