Maybe one way to think about the efficiency of markets is that an efficient market is honest. So then the analysis here is essentially saying that the markets are getting more inefficient and corrupt, or at least not getting better. And this is borne out by things like the surveys of Americans' trust in government. But this corruption is more systematic than individualized. It is reflected in things like the lack of options if your Google account is banned. It is essentially the lack of human intervention and instead the use of AI systems. The failure modes of these systems are not obvious, and these "corruptions" essentially do not show up in typical statistics, only in super macro statistics like these productivity things.