3 ms·
the stock market is doing something useful in the real world. the aggregate success thrown off by the stock market is a measure of the usefulness of the stock
by fsckboy 6y ago
the stock market is doing something useful in the real world.
the aggregate success thrown off by the stock market is a measure of the usefulness of the stock market.
participating in that is what enables to stock market to provide its usefulness.
so, yes, success on the stock market is a function of usefulness in the real world.
- afiori 6y agoThis is sort of circular, the stock market can also devolve is pure speculation and go full casino, which are generally considered an example of a not-necessarily-net-positive addition to society.
- fsckboy 6y agoit's not circular, but more to the point, you suggesting that the stock market can devolve (fail) is like saying "brakes on a car can fail, so brakes are stupid." Brakes are not stupid.
- afiori 6y agoI did not say that, I said that just because the people working with stock are getting paid does not mean that the stock market is doing something useful. Parassitism also exists in free markets. Stretching the brake analogy it would be similar to noting that just because you are pressing more your brake pedal it does not mean that your car is slowing down faster, sometimes you need an ABS