I'm hoping that the "market cannot be wrong" group-think in SV is receding.
What is often talked about is what markets fail account for (externalities, human myopia), but in our capitalist world people are unwilling to talk about how markets treat people (labor) just like it treats iron ore or soy beans. The whole point of optimizing economic systems is to benefit people, but when people are treated as commodities, the opposite happens to a large portion of the population. We avoid talking about that because it has been labeled "commie" and proven stupid because of the fall of communist countries, even though there were other factors besides Marxism that easily explain their downfall.
I would like to think that the open-mindedness and desire to rid ourselves of biases would make people in the tech world able to at least read Marx and other socialist critiques of capitalism with a truly open and honest mind.
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[ 2.5 ms ] story [ 19.4 ms ] threadI'm hoping that the "market cannot be wrong" group-think in SV is receding.
What is often talked about is what markets fail account for (externalities, human myopia), but in our capitalist world people are unwilling to talk about how markets treat people (labor) just like it treats iron ore or soy beans. The whole point of optimizing economic systems is to benefit people, but when people are treated as commodities, the opposite happens to a large portion of the population. We avoid talking about that because it has been labeled "commie" and proven stupid because of the fall of communist countries, even though there were other factors besides Marxism that easily explain their downfall.
I would like to think that the open-mindedness and desire to rid ourselves of biases would make people in the tech world able to at least read Marx and other socialist critiques of capitalism with a truly open and honest mind.