[ExI] Efficiency of algorithmic trading

Rafal Smigrodzki rafal.smigrodzki at gmail.com
Tue May 3 03:57:59 UTC 2011


On Mon, May 2, 2011 at 10:49 PM, Damien Broderick <thespike at satx.rr.com> wrote:

Envy is not the
> only motive for wishing to prevent some from engaging in harmful actions
> that make them vastly wealthy at the expense of others, or at least reducing
> the profits they make in doing so.

### Of course, it is reasonable to be indignant at those who get rich
by harming us all - but the opposite happens in a market economy (i.e.
competitive enterprises making or losing money by satisfying
legitimate desires of customers) where the gain of the CEO leads to
much greater gains, not losses, for the rest of us. Therefore,
indignation at an honest CEO's 8 figure income is not righteous, only
envious.

I reserve my righteous indignation for the specific executives who
survive by using government power to transfer wealth to themselves,
like every single banker who took TARP money, and for the government
officials who enabled it, like Mr Bernanke, Bush and Obama, and of
course for the clueless voters who got us into this mess in the first
place.

Rafal



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