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So? That's that's a tiny benefit, even to me, let alone society at large. Our society already has very efficient allocation of resources. Devoting significant r
by cwp 17y ago
So? That's that's a tiny benefit, even to me, let alone society at large. Our society already has very efficient allocation of resources. Devoting significant resources to increasing that efficiency by tiny amounts is just a waste. I'd prefer Carter devoted his intellect to making it cheaper to put cargo into low-earth orbit, than to making it cheaper to sell bonds.
- xxzz 17y agoA tiny benefit multiplied by a billion people and several trillion dollars per day suddenly isn't so tiny anymore.
- cwp 17y agoThe difference in benefit I'm talking about is qualitative, not quantitative. I'd rather have a cure for cancer than a thousand years of narrower bond spreads. And when I'm on my death bed, I hope I can look back on my life and say that I contributed to something more meaningful than the bond market.