As the Financialization of Fiduciary Money replaces Progress with Growth as the driver of liquidity in the share price trading markets, our common sense of what is better for people living their best lives gets replaced by expert knowledge of what drives growth in corporate bureaucracies, and the Net Present Value of the cash flows that flow through those bureaucracies, from which, ultimately, all share prices are derived.
Money in the markets gets aggregated in the hands of experts in NPV-based price speculation, through mutual funds for individuals, and multi-investor managed funds for Pensions & Endowments.
These experts become accountable only to each other, through peer benchmarking against quarterly, annual or other periodic changes in Net Asset Value of shares in the portfolios that they manage for others, professionally.
Trading becomes increasingly technical, esoteric and unfriendly to individuals who are not experts in market momentum.
A new aristocracy of Asset Management is taking over our economy, government and civil society.