this post was submitted on 14 Oct 2023
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Technology
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Ok, let me put it this way, it is not serving the purpose as intended by the accepted system.
The theory in economics by which the market and private companies are justified is that they will compete and produce products and fractionalizing quality in regards to cost, there by maximizing utility.
The problem is that most of their actual decisions are no longer moderated by this logic. they are moderated by systems of internal corporate dynamics, monopoly, and rent seeking.
There is a purpose to their actions, but it is not to maximize utility. It is to maximize the amount of resources and influence that a corporate structure controls.
Perhaps that is maximizing utility for the corporate structure, but it violates what I feel is the social contract; something to the effect of “groups are issued the status of limited liability, there by becoming firms or companies, by the public on the understanding that the set of rules they operate with in will maximize utility for the public.”
Ergo, from my perspective, it is useless, because it is serving the interest of an artificial construct and not the public at large.