Capitalism leaves most human affairs to the market. The market is nothing but a big popularity contest. That is X. If 20 million people were willing to pay 20 dollars each to see gladiators kill each other in the arena, that is X on a colossal scale. Those gladiators are more valuable to society than a whole city worth of garbage collectors who are indispensable to keeping things running another day.
A society is legitimate insofar as its resources align with its most important business. When X becomes distorted that society loses the mandate of heaven.
Capitalism leaves most human affairs to the market. The market is nothing but a big popularity contest.
ReplyDeleteThat is X.
If 20 million people were willing to pay 20 dollars each to see gladiators kill each other in the arena, that is X on a colossal scale.
Those gladiators are more valuable to society than a whole city worth of garbage collectors who are indispensable to keeping things running another day.
A society is legitimate insofar as its resources align with its most important business. When X becomes distorted that society loses the mandate of heaven.