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Finance isn't evil; day trading, investment banking, venture capital are all sharing information with the world and trying to move money to places where its mor
by grinnbearit 10y ago
Finance isn't evil; day trading, investment banking, venture capital are all sharing information with the world and trying to move money to places where its more valuable.
There is a case to be made about "negative externalities"[1] but talking about the whole of finance as unnecessary is throwing out the baby with the bath water.
[1] costs that aren't borne by the producer
- wott 10y agoValuable for what?
- grinnbearit 10y agoValuable for satisfying human desires The theory is that people spend money on what they desire, and so companies that generate more money satisfy more human values. You will always find outliers and exceptions (caused by negative externalities usually), but this is true in general.