tribally captured convexity as a replacement for feudalism
capitalism as institutionalized meritocracy - free markets and property rights and contract law and court systems
what does this mean?
The reference to “tribally captured convexity as a replacement for feudalism” seems to suggest that in modern capitalist societies, certain groups are able to use their social connections and resources to obtain disproportionate benefits and control. Some key points:
Convexity refers to convex functions in mathematics - small input changes have outsized impact on outputs.
Tribally captured convexity implies that specific groups leverage their networks and position to accrue non-linear benefits.
This concentrates power and wealth, not purely based on meritocracy.
It replaces feudalism where hierarchy was explicit, with an ostensibly fair capitalist system.
However, tribal affiliation now supersedes the institutions meant to create a level playing field.
The core idea is that capitalism theoretically relies on principles like free markets, property rights, contract law, and courts to generate fair competition and mobility based on productivity alone.
But in practice, tight-knit interest groups are able to override these institutional safeguards to draw outsized gains for themselves. They bend the “rules of the game” to their advantage via insider connections.
This behaves like a convex function - small tweaks reap huge rewards. It contradicts capitalism’s aim of dispersing power across varied stakeholders to minimize rent-seeking.
Instead, it creates a neo-feudalism where specific “tribes” consolidate influence and wealth, undercutting ideals of pure meritocracy. The language of “captured convexity” vividly conveys this subversion.
In summary, the phrase Critiques capitalist meritocracy as vulnerable to tribal favoritism that can accumulate outsized benefits, despite institutional checks against concentration of power.