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While a lot of people can acquire a lot of money by being a slightly better predictor of what the short term market thinks is the the future cash flow of public
by njarboe 8y ago
While a lot of people can acquire a lot of money by being a slightly better predictor of what the short term market thinks is the the future cash flow of public companies will be, it is a bit sad that this skill is valued so highly. So many really smart and hardworking people spend their whole lives doing it. They can end up with a lot of money, but I don't think they produce much wealth. Similar to how getting people to click on ads is really lucrative but also is more of a zero sum game than productive.
Not sure how to get more people to work on more interesting things like fusion power, rocket ships, electric powered transportation, etc. instead of skimming off of zero sum transactions. Just taxing the rich at high rates also kills the few golden geese.