[ExI] Efficiency of algorithmic trading

[spike]

>... On Behalf Of Jones Murphy
Subject: Re: [ExI] Efficiency of algorithmic trading

>...No, Spike. Wealth concentration does matter, a lot. If it goes to
sufficiently high record levels as it has in the US, it crushes upward
mobility, as it has in the US. People shouldn't just be compared with people
at their income/wealth level, because you do not get a sense of how rigidly
stratified a society is until you look at intergenerational upward mobility.
The fact that CEO:worker pay in the US has rocketed out of the range of
other prosperous countries post-Reagan, and out of America's own historical
ranges, while long-term average econonic growth has slowed and become more
volatile, is not an encouraging indicator for this kind of extreme
inequality.



Simple solution: get an average worker to serve as CEO.

Any takers?

CEO pay is set by boards of directors, which are largely populated by major
stockholders and owners.  Imagine two companies merge.  The job of the
average worker hasn't changed, but the job of the CEO has just expanded
dramatically.  So why should not the pay of the CEO go up dramatically?  The
CEO pay going to the stars is a result of dramatically bigger companies.
The CEOs make a ton of money, but there are fewer of them.  I fail to see
what this has to do with intergenerational upward mobility.

I do urge us all to refrain from insulting each other's favorite political
systems, or making sweeping generalizations regarding libertarians,
conservatives, liberals, or anything else.  We can do better than that here.

spike