Right. Those are the salient questions. Or to put it another way: extreme imbalance resting on actual or strongly arguable misaligned incentives lead to revolutions. At base justice is the issue. I prefer to avoid revolutions.
So, what are bad incentives and what'd we do about it?
Capitalism in the large is fine. In the medium lens tax avoidance by corporations, and those with a litany of cpas is a problem. The idea that the only function of a corporation is to increase share price is a problem. All these derive from a perspective that all that matters is the next reporting cycle or tax return.
I don't like the Chinese goverment, but i do respect the fact that they think longer term. Show me the money; show me the money is not the America we want or need to be.
Complicated tax code is another area the rich hide behind. Another problem is there are different rules for the top 5% and those connected to politicians. Our current administration in the US is a good example of just how bad that is.
Here is the US we have over corrected from the pre-Carter era in favor of the top 5% and corporations.
So, what are bad incentives and what'd we do about it?
Capitalism in the large is fine. In the medium lens tax avoidance by corporations, and those with a litany of cpas is a problem. The idea that the only function of a corporation is to increase share price is a problem. All these derive from a perspective that all that matters is the next reporting cycle or tax return.
I don't like the Chinese goverment, but i do respect the fact that they think longer term. Show me the money; show me the money is not the America we want or need to be.
Complicated tax code is another area the rich hide behind. Another problem is there are different rules for the top 5% and those connected to politicians. Our current administration in the US is a good example of just how bad that is.
Here is the US we have over corrected from the pre-Carter era in favor of the top 5% and corporations.