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Honest question? Do you believe it’s possible to sustain anything close to the levels of consumer wealth seen in US, Europe, or Australia without liquid and eff

Honest question? Do you believe it’s possible to sustain anything close to the levels of consumer wealth seen in US, Europe, or Australia without liquid and efficient financial capital markets? If so, how come since the industrial revolution, the wealthiest economies have always had the most liquid and sophisticated financial markets? (With the possible exception of a few natural resource states) Have you considered the possibility that financial liquidity is as essential for high consumer living standards as reliable electrical grids or fair court systems? Because the majority of economists would certainly say so.

hn_throwaway_99 6y ago
There is more than ample financial market liquidity without needing some of the brightest people in the world spending their time trying to shave half a millisecond off trade execution times.
- ghufran_syed 6y ago
  How do you measure if the liquidity is "ample"? And does that necessarily mean it would stay "ample" if market volatility went up?
- dcolkitt 6y ago
  "There is more than ample database performance without needing some of the brightest people in the world spending their time trying to shave half a millisecond off query execution times" Imagine someone making such a statement, without even bothering to talk to someone with actual expertise in the field of database technology. It's fine to be a layman on the topic, but it's not a good look to presume that you no more than the domain experts without even bothering to study their positions.
  - hn_throwaway_99 6y ago
    First of all, I have experience with HFT, so I know what I'm talking about. Second, your analogy doesn't make sense. HFT is only enabled as a byproduct of how electronic exchanges order their trades. They could just as easily bulk all orders by the second and then randomly order them to eliminate the benefit of, for example, building as close as possible to the exchange so you have a speed-of-light transit time benefit over your competitors.

hn_throwaway_99 6y ago

There is more than ample financial market liquidity without needing some of the brightest people in the world spending their time trying to shave half a millisecond off trade execution times.

ghufran_syed 6y ago
How do you measure if the liquidity is "ample"? And does that necessarily mean it would stay "ample" if market volatility went up?
dcolkitt 6y ago
"There is more than ample database performance without needing some of the brightest people in the world spending their time trying to shave half a millisecond off query execution times" Imagine someone making such a statement, without even bothering to talk to someone with actual expertise in the field of database technology. It's fine to be a layman on the topic, but it's not a good look to presume that you no more than the domain experts without even bothering to study their positions.
- hn_throwaway_99 6y ago
  First of all, I have experience with HFT, so I know what I'm talking about. Second, your analogy doesn't make sense. HFT is only enabled as a byproduct of how electronic exchanges order their trades. They could just as easily bulk all orders by the second and then randomly order them to eliminate the benefit of, for example, building as close as possible to the exchange so you have a speed-of-light transit time benefit over your competitors.