It just sounds like you’re saying that the final authority gets decided at run-time, based on whoever happens to have the most financial power.
That’s just one of the many possibilities.
Why do you think this is preferable to a system where authority is agreed upon beforehand by a majority of the people?
Democracy inevitably becomes a grandiose popularity contest where the population votes based on social-signaling considerations which have little if nothing to do with putting into place an institution which will lead to sustainably benevolent results for the society. There are all sorts of oddities, such as systematic redistribution of resources from the productive members of the economy to the unproductive, shortsighted policy enactment because the real problems of society usually can’t be solved without initial pain which the politician would be blamed for, and so forth.
The comparison to religion makes no sense. Unlike biological organisms, human governments are designed. For example, in the case of the US, the structure and function of the court system is very explicitly laid out in the US constitution, and it was carefully designed in a committee via months/years of debate.
The court system is an absolute wreck, no matter how “carefully designed” the designers believe it to be.
Imagine a pre-industrial world with two villages on either side of a large forest. The people need to get back and forth between these villages every few days or weeks. The first person through his own self-interest simply looks for the easiest path, breaking several branches on his way. The next person does the same, probably going on a completely different route, not thinking anything of the previous person. After quite a few iterations of this, some of the people will end up going on routes that were previously made a bit easier by previous hikers. After tens of thousands of iterations of this, there will be convenient trails going through the woods in an efficient way, with all the obstacles neutralized.
If a foreigner chanced upon this creation, they would surely think to themselves, “What a great trail system! I’m glad the people of this area were kind enough to make a trail for all to use!” They would immediately jump to the idea that the trail, looking like it was created for a purpose, must have been designed by a committee of individuals or commissioned by a wise member of one of the villages. But no such thing happened; each person acted upon their own self-interest, and the byproduct was a trail system that looks like it was designed but really was an automatically emergent order.
Most of what works very well in society is like this, and most of what breaks in a disastrous way is an attempt to design systems where simply setting the initial conditions for an emergent order would have been a much better idea.
Investors simply try to buy low and sell high for their own self-interest. Many of them, even very successful ones, probably have little or no appreciation for how important the role of investors is in the emergent order of the economic system.
That’s just one of the many possibilities.
Democracy inevitably becomes a grandiose popularity contest where the population votes based on social-signaling considerations which have little if nothing to do with putting into place an institution which will lead to sustainably benevolent results for the society. There are all sorts of oddities, such as systematic redistribution of resources from the productive members of the economy to the unproductive, shortsighted policy enactment because the real problems of society usually can’t be solved without initial pain which the politician would be blamed for, and so forth.
The court system is an absolute wreck, no matter how “carefully designed” the designers believe it to be.
Imagine a pre-industrial world with two villages on either side of a large forest. The people need to get back and forth between these villages every few days or weeks. The first person through his own self-interest simply looks for the easiest path, breaking several branches on his way. The next person does the same, probably going on a completely different route, not thinking anything of the previous person. After quite a few iterations of this, some of the people will end up going on routes that were previously made a bit easier by previous hikers. After tens of thousands of iterations of this, there will be convenient trails going through the woods in an efficient way, with all the obstacles neutralized.
If a foreigner chanced upon this creation, they would surely think to themselves, “What a great trail system! I’m glad the people of this area were kind enough to make a trail for all to use!” They would immediately jump to the idea that the trail, looking like it was created for a purpose, must have been designed by a committee of individuals or commissioned by a wise member of one of the villages. But no such thing happened; each person acted upon their own self-interest, and the byproduct was a trail system that looks like it was designed but really was an automatically emergent order.
Most of what works very well in society is like this, and most of what breaks in a disastrous way is an attempt to design systems where simply setting the initial conditions for an emergent order would have been a much better idea.
Investors simply try to buy low and sell high for their own self-interest. Many of them, even very successful ones, probably have little or no appreciation for how important the role of investors is in the emergent order of the economic system.