[gpt5]

The reason the stock market is generally "priced right", which we see in the strong long term returns of index funds, is because the winners get more money and get more influence, and the losers get less.

So you have a self selecting system, that have (over time) proved itself. Whatever you might think of the effect of certain effects (such as immigrant labors) you can end up reflecting in your investments, as others do - and if you end up being correct, you'll have more power to influence the price in the future.