(no title)
bmsan | 1 year ago
>capital concentration increases
>expectations for what capital owners can do with money increases
>expectations exceed available capital
>investment returns must increase (race to the top)
>cooperation among capital owners must increase to get better returns
>capital owning group begins to self-select and become less diverse, if this wasn't already caused by the background/personality required to accrue capital
>investment theory converges on a handful of "winning" ventures
>because this is where capital is flowing, workers are forced to divert to these ventures
>competition increases, hyperspecialization increases
>expertise in and sophistication of other areas begins to decline, causing quality decline, garnering less investment; feedback loop
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*debt cannibalizes future productivity
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)diversity in capital ownership and management increases likelihood of diversity in investment venture target
)increased competition, increased likelihood that ventures will cover needs, decreased likelihood of overweighting in one area/overproduction
)solution: capital redistribution. Perhaps globally
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