Did I miss it or did they not cover the effects of the easy money they talk about for loans? If the availability of the money is increased, usually you will get much lower returns. Not to mention, much of the market is built on speculation and this increased money is not actually going to companies on the stock market (because most of us don't have access to private equity).
I do understand and agree with the part about increased productivity (decreased scarcity and cost) raising quality of life. I just don't see that applying to everyone equally (companies will keep some of that cost decrease as profit and return some to investors but not everyone can afford to be investors). I think there are a lot of finer points the article glosses over, especially around inefficiencies. And of course this is far from a settled topic as there are many economists debating this sort of thing.
I do understand and agree with the part about increased productivity (decreased scarcity and cost) raising quality of life. I just don't see that applying to everyone equally (companies will keep some of that cost decrease as profit and return some to investors but not everyone can afford to be investors). I think there are a lot of finer points the article glosses over, especially around inefficiencies. And of course this is far from a settled topic as there are many economists debating this sort of thing.