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Update can-financialize.md 

[s]: fixed typos
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@ -21,7 +21,7 @@ claim:
* Financialization is useful as it allows us to effectively direct resources towards the things we care about. * Financialization is useful as it allows us to effectively direct resources towards the things we care about.
* The dysfunctionalities present in our current financial sector are not inherent to financialization itself. Financial value can be a powerful enabler of other types of value creation, without any of the negative impacts on other values (e.g. a well functioning environment) currently associated with money and finance. * The dysfunctionalities present in our current financial sector are not inherent to financialization itself. Financial value can be a powerful enabler of other types of value creation, without any of the negative impacts on other values (e.g. a well functioning environment) currently associated with money and finance.
* Besides, whether we like it or not, we live in a financialized world; our only recourse is to embrace the reality of hyper-financialization and try to make it work for everyone. * Besides, whether we like it or not, we live in a financialized world; our only recourse is to embrace the reality of hyper-financialization and try to make it work for everyone.
*
**Steel-manning subclaim 2: the current monetary and financial systems are deficient in their ability to capture what we think is really valuable** **Steel-manning subclaim 2: the current monetary and financial systems are deficient in their ability to capture what we think is really valuable**
* Value can be better or more extensively financialized than is possible under the current system. * Value can be better or more extensively financialized than is possible under the current system.
* This is shown by the funding shortfall for things that matter to us e.g. education and climate change prevention; and there are cases where significant resources are devoted to things that don’t have social value e.g. the whole host of financial instruments totally detached from the productive economy. * This is shown by the funding shortfall for things that matter to us e.g. education and climate change prevention; and there are cases where significant resources are devoted to things that don’t have social value e.g. the whole host of financial instruments totally detached from the productive economy.
@ -35,7 +35,7 @@ claim:
**Evaluating subclaim 1: more financialization of non-financial value is itself desirable (likely false, either totally or mostly)** **Evaluating subclaim 1: more financialization of non-financial value is itself desirable (likely false, either totally or mostly)**
* There are many reasons to be skeptical of this claim. * There are many reasons to be skeptical of this claim.
* In trying to financialize all that we hold valuable we risk losing touch with what makes it valuable in the first place. The essence of some value isn't reducable in this way. This depends on one's philsophical understanding of what value is, or certain values are. * In trying to financialize all that we hold valuable we risk losing touch with what makes it valuable in the first place. The essence of some value isn't reducable in this way; can we really capture all of the value of the natural world in financial terms, for example? This depends on one's philsophical understanding of what value is, or certain values are.
* More financialization may lead to a world we find undesirable, irrespective of the level of non-financial value it generates * More financialization may lead to a world we find undesirable, irrespective of the level of non-financial value it generates
* Financialization may perpetuate self-serving dynamics we see in today’s society as people seek to game the system to optimize for the _rewards_ for value generation rather than value itself. * Financialization may perpetuate self-serving dynamics we see in today’s society as people seek to game the system to optimize for the _rewards_ for value generation rather than value itself.
* There is concern about becoming a “market society”, where the mentalities, relations and incentives of the market come to dominate all areas of our lives. * There is concern about becoming a “market society”, where the mentalities, relations and incentives of the market come to dominate all areas of our lives.