[clavalle]

Or an economic choke point, depending on your point of view.

The market works best when there are more people making decisions -- it smooths the curve. If we have fewer and fewer people deciding where capital is allocated, it is going to be a big problem. Sure, people can, and are, making a very good living doling out capital in one way or another, but that is missing the point.

[richcollins]

Everyone is making decisions about spending their capital every day so decisions are quite distributed.

I think you meant that it works better when capital is evenly distributed. I don't know if that is true but there seems to be lots of evidence that it doesn't work well when its distribution is largely determined by who can steal the most (as is the case with the current system).

[clavalle]

>I don't know if that is true but there seems to be lots of evidence that it doesn't work well when its distribution is largely determined by who can steal the most (as is the case with the current system).

You are going to have to unpack that statement for me; you lost me there.