The adage "Popular does not equal good" has never been more relevant.
Eh, it depends. It's not true that popular ==> good, but I think there are plenty of areas where it's more true than it used to be that good ==> popular. For example, many more people now have a much better chance to get an education and demonstrate aptitude in some area. And better communication means talent is better matched to opportunity.
That's not to say we're really optimizing human potential. That doesn't even seem close to true. But I think we're doing a lot better than we were even 50 years ago.
> I [suspect] that we are throwing more and more of our resources, including the cream of our youth, into financial activities remote from the production of goods and services, into activities that generate high private rewards disproportionate to their social productivity. I suspect that the immense power of the computer is being harnessed to this 'paper economy', not to do the same transactions more economically but to balloon the quantity and variety of financial exchanges.