Free markets are an optimal pachinko machine for distributing capital, that needs no oversight or central direction.
It doesn't generate its own pachinko balls, that's utterly orthogonal. Free market capitalism is what you DO with a population that has disposable income. You can't feed the bottom of it into the top, it doesn't even work that way.
It's not even optimal for reaching the highest developments of ideas and inventions, because local maximums will starve out the newer ideas that need to grow and become competitive. It does nothing about network effects and tends towards monopoly.
But it's a fantastic distribution mechanism for the wealth of existing populations: no overseer required! Within some known limitations it works very nicely.
It doesn't generate its own pachinko balls, that's utterly orthogonal. Free market capitalism is what you DO with a population that has disposable income. You can't feed the bottom of it into the top, it doesn't even work that way.
It's not even optimal for reaching the highest developments of ideas and inventions, because local maximums will starve out the newer ideas that need to grow and become competitive. It does nothing about network effects and tends towards monopoly.
But it's a fantastic distribution mechanism for the wealth of existing populations: no overseer required! Within some known limitations it works very nicely.
NO wealth is ever created.