[extropy-chat] Re: Ethics of contrarianism

[Technotranscendence]

I disagree.  I see derivatives, including options, as ways of dealing with risk and there's nothing parasitic about that in my eyes.  Yes, some people are deluded and are basically giving their money away, but, used correctly, I see nothing unethical about them.  In fact, in a sense, this is no different from how many people accept a job as an employee for a salary versus going into business for themselves.  The latter involves much more risk, but the rewards are often much higher.  The former involves much less risk, but at the cost of lower pay.  (Perhaps what's being left out here is ex ante psychic profit -- using "psychic" to mean "of the mind" rather than some spooky mumbo jumbo.  People who take the lower risk when they know they'll get less pay are still obtaining a psychic profit in terms of lowered risk.)

Regards,

Dan
  From: Lifespan Pharma Inc. 
  To: ExI chat list
  Sent: Sunday, September 04, 2005 9:51 PM
  Subject: [extropy-chat] Re: Ethics of contrarianism


  I still see options and derivatives markets as more parasitic (in their everyday use)  than enhancing the true market valuation of goods(as is the commonly purported purpose for their existance).
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