[ExI] How slow is capitalism?

[Jones Murphy]

I think you've discovered something brilliant, BillK. If you're
correct, due to sheer velocity all e-commerce is fraud, not just
trading in financial markets(which frequently revolve around quite
simple physical assets like oil, gas, gold and so on).

On Wed, Apr 27, 2011 at 12:20 PM, BillK <pharos at gmail.com> wrote:
> On Wed, Apr 27, 2011 at 10:46 AM, Jones Murphy wrote:
>> So answer the question, Eugen. How slow is real capitalism?
>>
>>
>
>
> Capitalism depends on free trade between equals.
> Without that one party is stealing from the other.
>
> In the real world this can never be achieved as two parties won't have
> equal knowledge, ability or experience. If they did then no trade
> would take place. (This is the basic flaw in libertarian free trade
> theory). But outright theft, con tricks and fraud can be avoided so as
> to provide a fairly reasonable trading system for day to day living.
>
> Microsecond trading deals in the interval between placing an order and
> the trade being actioned is just plain fraud. Goldie (and others) have
> been clever enough to get away with it so far.
>
>
> BillK
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