There may be some theoretical calculation showing that shuffling pieces of paper around the world according to market supply and demand is efficient, Keynes said. ‘But experience is accumulating that remoteness between ownership and operation is an evil in the relations among men, likely or certain in the long run to set up strains and enmities which will bring to nought the financial calculation.’
Very deep and astute observation. This is what makes Keynes the genius that he is.
