"The idea, essentially, is that the market will settle itself, and the consumer, aided with the right information (preferably with a clean design and user-friendly interface), will be able to make the right choice. The idea is that the good projects will rise to the top, that the Execs with the best star-rating will get hired for more jobs, that the Kickstarters with the most compelling sells will meet their goals, that the people with money will spend it on the right things. But you don't need to see a tiger at a party or attend an electronics show to know that consumers don't always spend their money rationally, and you don't need to be a far-left liberal to understand that regulation exists in order to protect the most vulnerable members of society. (A couple weeks ago, the AP reported that Silicon Valley's poverty rate is on the rise, even as its companies continue to rake in millions. "Simply put," the article said, "while the ultra-rich are getting richer, record numbers of Silicon Valley residents are slipping into poverty.")" →
This piece on the effects of the tech bubble’s insane wealth creation is really great and sobering. Thanks, Melissa, for passing it along.