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by objectivistbrit
3476 days ago
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Investors aren't a class. "Investors" includes pension funds, university endowments, hedge funds, banks, sovereign wealth funds, individual savers - the only thing these people have in common is they have funds and want to grow them, but they differ completely on risk preference, time preference, amount to invest, etc, etc. I.e., they all pursue their own individual self-interest, not some collective class interest. Some of these entities fund lobbyists and some don't. mythology ... opaquely-funded think tanks I don't know if you are a Marxist, but this is a Marxist way of looking at the world, where each class pursues its collective interest, and funds propaganda to spread a self-justifying mythology. |
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My comment about think tanks was driven by http://whofundsyou.org/ , really. "Funds propaganda to spread a self-justifying mythology" is definitely something that happens to varying extents by various actors - that's effectively how "super-PACs" work in the US. And privatization has the characteristics of a mythology: it's asserted as a cure-all for problems in public services, and implemented even when extremely unpopular. It relies on creating pseudo-markets, often with only one buyer and tiny number of sellers, and the buyer is not the consumer of the service so the quality gets driven down.