alt Hacker NewsOr you can just abolish the fiat soft money system, let the corporations go out of business, let efficient small companies take their place and then you'd have founders who actually care about long term results in charge and they could manage the company however they want. If they do a bad job, they'd go out of business. If they do a good job, they'd stay afloat or maybe even grow a little. And over time, all the companies with incompetent leaders would be wiped out, everyone would get a fair shot at being a leader and everyone would end up in their rightful place and capitalism would function as it was designed.
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The tulip craze and many other market excess crashes occurred under non-fiat currency schemes. The money system being fiat or metals backed or crypto is incidental to "let the corporations go out of business, let efficient small companies take their place". If you want smaller corporations and more competitive marketplaces, it's anti-megascale taxes and anti-monopoly regulation that can achieve that.
> abolish the fiat soft money system,
And replace it with what?
You could read The Long Twentieth Century by Giovanni Arrighi.
Fiat money is not the problem, the financialization of economy is actually a common by-product of aging great monetary powers. The US chose to become a monetary power in 1945, rejecting Keynes' Bancor proposal.
Then in 1971, it found it couldn't keep it working, due to the very reasons Keynes explained to them at Bretton Woods. Arrighi argues this has happened 4 times already.
So Fiat money and the financialization of life is just an outcome of something else - that being a monetary superpower is just not sustainable.