I have my reservations about Steem. I was waiting for you to call me on that. Your 'bigger is better' (economies of scale) model of capitalism is not necessarily always successful (as you have demonstrated), and is therefore not always followed. It is also totally wrong to assume that a large sum of money will necessarily be squandered, or that a steady check will be saved responsibly.

The recession in the late 70's was a result of Nixon's instating wage and price controls (the mechanisms that you think save the day), his taking us off the gold standard, and the mounting effects of LBJ's 'great society'—not because of market failures. Also, if my boss expected me to work twice as much for half the pay—I take my labor elsewhere. The market naturally finds the optimal price. Central planning not only doesn't work—it causes massive damage to the economy.

What you have studied and what you have lived through is irrelevant to the facts. Also, I could ask you the same thing about Steem. If you love the government so much, why are you here?