3 ms·

>"real world skills" is a nebulous concept. What counts as a "real world skill" and what doesn't? Got a sprain? Call a doctor. Leaking pipe? Call a plumber. Do

>"real world skills" is a nebulous concept. What counts as a "real world skill" and what doesn't? Got a sprain? Call a doctor. Leaking pipe? Call a plumber. Doesn't seem nebulous at all. Conversely, speculation and greed ruining the world? Call on the populace to bail them out. Speculation doesn't build or fix physical stuff. >You mean some sort of planned economy? Those have not worked well historically. Because historically it has been done on inferior computers. Whereas now we have the computing power to calculate the economy n-times over. Dr. Paul Cockshott on Cybersocialism: https://www.youtube.com/watch?v=LtlZys7QOO4 https://www.youtube.com/watch?v=LtlZys7QOO4. That being said, I'm sceptical as well; the video leaves many things unanswered which he expands on in his books that I have yet to read. However, I welcome any ideas on how to detach humans from having to deal with money, so we can collectively pursue more lofty goals, beyond profit.

cortesoft 5y ago
Allocating capital towards the most useful projects is a valuable real world skill. Bankers are essential for an advanced economy, as is capital investment. Now, we can certainly argue the specifics of the best way to do that, and whether our current system is working as it should, but it isn’t as simple as to say everyone working in finance is useless.
- CynicusRex 5y ago
  >Allocating capital towards the most useful projects is a valuable real world skill It would be if that's what speculation actually did, but it doesn't. Everything that predominantly boils down to making money with money needs to go. >but it isn’t as simple as to say everyone working in finance is useless. Agreed.
  - gruez 5y ago
    >It would be if that's what speculation actually did, but it doesn't. But it does. Speculators influence the price up/down depending on their actions. How much they earn is directly based on how correct their predictions are.

cortesoft 5y ago

Allocating capital towards the most useful projects is a valuable real world skill. Bankers are essential for an advanced economy, as is capital investment. Now, we can certainly argue the specifics of the best way to do that, and whether our current system is working as it should, but it isn’t as simple as to say everyone working in finance is useless.

CynicusRex 5y ago
>Allocating capital towards the most useful projects is a valuable real world skill It would be if that's what speculation actually did, but it doesn't. Everything that predominantly boils down to making money with money needs to go. >but it isn’t as simple as to say everyone working in finance is useless. Agreed.
- gruez 5y ago
  >It would be if that's what speculation actually did, but it doesn't. But it does. Speculators influence the price up/down depending on their actions. How much they earn is directly based on how correct their predictions are.