Entities like PE or conglomerates are a lot like Soviet bureaus: giant bastions of bureaucrats appointed to run things they have no direct expertise in running.
The underlying issue here is what I call the "big dumb money problem." You get entities with more resources to deploy than intelligence or expertise to deploy them efficiently.
A major argument for things like anti-trust and some degree of progressive taxation is to avoid what I call "Soviet Kapitalism" -- which the top of the economy ends up dominated by big dumb money and bureaucratic monopolies. When this happens a market economy starts looking indistinguishable from the USSR. In a way you could say a totalitarian state like the USSR is just an extreme version of this with the state acting like one giant monopoly mega-corp.
Money needs to be redistributed so the ratio of dollars to brain cells is more balanced.
https://en.wikipedia.org/wiki/Apparatchik
Entities like PE or conglomerates are a lot like Soviet bureaus: giant bastions of bureaucrats appointed to run things they have no direct expertise in running.
The underlying issue here is what I call the "big dumb money problem." You get entities with more resources to deploy than intelligence or expertise to deploy them efficiently.
A major argument for things like anti-trust and some degree of progressive taxation is to avoid what I call "Soviet Kapitalism" -- which the top of the economy ends up dominated by big dumb money and bureaucratic monopolies. When this happens a market economy starts looking indistinguishable from the USSR. In a way you could say a totalitarian state like the USSR is just an extreme version of this with the state acting like one giant monopoly mega-corp.
Money needs to be redistributed so the ratio of dollars to brain cells is more balanced.