" . . . 1) As I've argued with Justin in the past, the "best" allocation of capital isn't necessary -- investment of past success is in fact the way in which most investment in the whole world is financed, so it must be a viable economic model. . . . "
Given the ambitions of the 'socialism' part of market socialism, I would have thought better capital allocation was more rather than less important. But feasibility is important too.