Following your analogy, I suppose the modern politician is more akin to private equities and investment bankers, than entrepreneurs. The latter is incentivized to provide value to make money (though whether that value is positive or negative, it depends. The founders of Helsing, Palantir, and OpenAI were technically entrepreneurs). While the former don't need to create any value at all; they don't even need to make the businesses in their portfolio prosper, as long as their exit price is high enough. Yet they hold some of the biggest chunks of wealth in the world.
Check out Elle Griffin's "shared-capitalism" model on Substack (forgot her actual term for it). Curious on your thoughts about that and whether it can be applied in real world Philippines, and what mechanisms could be used.
It took me a few years to understand the value that investment bankers, VCs, and private equity create, since my background has been hands-on company ops. It turns out allocating capital is extremely valuable from the pov of the system of capitalism. A "neo-animist" lens helped me make sense of this https://www.theseedsofscience.pub/p/psychofauna-studies-a-manifesto
I wrote the dirty secret article 9 years ago. I now appreciate (good) politicians better: they set the playing field for people to create value (eg, rule of law, enforcing contracts, maintaining a currency). So I've actually changed my mind a bit about this.
Governments everywhere exist primarily to enable rent-seeking.
The various tiers of government (Federal, State and local) in the United States of America are for the most part Platonic ideals of rent-seeking machinery.
The US Federal Government is the epitome of the whole disgraceful corrupt, immoral but legal (because the laws are carefully written by the rent-seekers who control government) enterprise.
Following your analogy, I suppose the modern politician is more akin to private equities and investment bankers, than entrepreneurs. The latter is incentivized to provide value to make money (though whether that value is positive or negative, it depends. The founders of Helsing, Palantir, and OpenAI were technically entrepreneurs). While the former don't need to create any value at all; they don't even need to make the businesses in their portfolio prosper, as long as their exit price is high enough. Yet they hold some of the biggest chunks of wealth in the world.
Check out Elle Griffin's "shared-capitalism" model on Substack (forgot her actual term for it). Curious on your thoughts about that and whether it can be applied in real world Philippines, and what mechanisms could be used.
It took me a few years to understand the value that investment bankers, VCs, and private equity create, since my background has been hands-on company ops. It turns out allocating capital is extremely valuable from the pov of the system of capitalism. A "neo-animist" lens helped me make sense of this https://www.theseedsofscience.pub/p/psychofauna-studies-a-manifesto
I wrote the dirty secret article 9 years ago. I now appreciate (good) politicians better: they set the playing field for people to create value (eg, rule of law, enforcing contracts, maintaining a currency). So I've actually changed my mind a bit about this.
Governments everywhere exist primarily to enable rent-seeking.
The various tiers of government (Federal, State and local) in the United States of America are for the most part Platonic ideals of rent-seeking machinery.
The US Federal Government is the epitome of the whole disgraceful corrupt, immoral but legal (because the laws are carefully written by the rent-seekers who control government) enterprise.