Episode 111: The fabrication of value.
In light of recent events in the stock market, Joe and I explain how current market volatility has more to do with value fabrication more than anything else.
✵✵✵✵✵✵✵✵
Topics:
◉ Income inequality eventually comes for the rich.
◉ All of capitalism is predicated on sustaining markets which can afford the goods and services being offered...there is no way around this.
◉ The dangers of a stock market that does not reflect real world economic conditions.
◉ The psychological construction of value.
◉ Executive compensation and perverse incentive structures.
◉ The practice of short selling is not a problem...it's when short sellers manipulate value that it becomes a problem.
◉ Capping executive compensation to a certain percentage beyond the lowest paid employee.
◉ Consequences can help correct risky and corrupt behavior.
◉ Once people discover there are no real gold coins in the treasure chest...chaos ensues.
◉ Layoffs and minimum wage jobs should be an indicator of weakness not strength.
◉ We need to bring back good ol' fashioned SHAME.
