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0x3f • today at 12:35 PM • 1 reply • view on HN

We don't have any reliable and scalable way of doing this allocation, though, so it's a bit like saying that all the resources are wasted being locked up in asteroids.

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dgacmu • today at 1:57 PM

We do have a lot of policy levers that are tilted in favor of making money in finance, though, and we could change those levers.

  - The carried interest loophole
  - We could add small transaction taxes
  - We could raise capital gains taxes
  - We could be a little more focused on enforcing antitrust
  - We could raise higher end marginal tax rates to reduce the relative attractiveness of off-scale payrate jobs
  - We could provide better universal services to do the same
All of these things could shift people's interest in and ability to do work in areas of greater long-term societal importance without bringing in any form of centralized resource allocation.
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