
Ray Dalio – Why and How Capitalism Needs to Be Reformed (Part 1) - pseudolus
https://www.linkedin.com/pulse/why-how-capitalism-needs-reformed-ray-dalio/
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3dfxiter
Dalio compares capitalists to socialists using the old saw: one has trouble
slicing up the pie, the other has trouble growing it. More appropriate today
from my experience working as a commodities trader: the financial sector eats
the pie that the real economy bakes. I retired comfortably after only 10 years
on the Street ... but I'm not proud of what I accomplished. And neither should
you be, Mr. Dalio.

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CryptoPunk
The financial sector provides the work of analyzing economic need to better
allocate capital. It is real work, that adds real value to the economy. The
problem with the financial sector is that barriers to entry, created to
"protect retail investors" and "mitigate systemic risk", result in the vast
majority being excluded from the industry and a small elite capturing the
majority of profits.

Any development that threatens to disrupt the regulated financial sector is
dealt with harshly by regulatory agencies, as in the case of the token sale
market and the SEC's enforcement actions against token sale organizers.

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toomuchtodo
> created to "protect retail investors" and "mitigate systemic risk", result
> in the vast majority being excluded from the industry and a small elite
> capturing the majority of profits.

Most Americans don't make enough to have anything left over to invest in the
markets. This isn't a regulatory failing, this is a labor regulation failing.

~~~
jandrewrogers
> Most Americans don't make enough to have anything left over to invest in the
> markets.

This assertion is not supported by demographic statistics. The _median_ US
household has ~$12,000/year in investable cash, after _all_ ordinary expenses.
Whether or not they actually invest any of this cash is another matter.

~~~
toomuchtodo
57 percent of Americans can’t come up with $500 for an emergency expense.
Based on that, I disagree with your assertion regarding investable cash.

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azemda
Problems have solutions, Contradictions don't. Capitalism has
Contradictions[1]

[1] [https://thewire.in/economy/david-harvey-marxist-scholar-
neo-...](https://thewire.in/economy/david-harvey-marxist-scholar-neo-
liberalism)

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namlem
Glen Weyl's RadicalXChange movement is the most sensible alternative to
capitalism out there, imo. The Herberger tax/COST and liberal radicalism are
great ideas.

