Isn't it possible for the market itself to be screwed up? There is no such thing as The Market, there are many different markets with different rules and contexts. We can alter these rules and contexts, and they change on their own over time through technology and other things.
The question is whether the market we have right now is serving us well, or if we could alter it to serve us better.
Market prices just reflect supply and demand. If there are insufficient numbers of people qualified to act as CEO of a struggling fortune 500 company, and such people are paid very well, then there's a strong incentive for anyone remotely qualified to do whatever possible to appear qualified, so that he/she might receive that high level of compensation.
This isn't true. One example off the top of my head, good looking people get paid more. They aren't more qualified, yet they get paid more. Even at the executive level.
Isn't it possible for the market itself to be screwed up? There is no such thing as The Market, there are many different markets with different rules and contexts. We can alter these rules and contexts, and they change on their own over time through technology and other things.
The question is whether the market we have right now is serving us well, or if we could alter it to serve us better.