[ExI] How slow is capitalism?

[BillK]

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