3 ms·
No, that isn’t what “objectively useful” means. Wealthy people pay for this engineering because it helps maintain and increase their wealth. That’s about it. T
by ceilingcorner 5y ago
No, that isn’t what “objectively useful” means.
Wealthy people pay for this engineering because it helps maintain and increase their wealth. That’s about it. There is zero societal benefit from something like a CDO.
- chii 5y ago> There is zero societal benefit > what “objectively useful” means. what contradictory beliefs you hold. You are making a subjective value judgement (your own) on what makes something beneficial to society, and yet claim that the actual objective measure - that of using money to measure value - is not what "objectively useful" means. Value to society isn't an objective measure. Otherwise, social workers and charity would be rolling in money.
- ceilingcorner 5y agoNowhere did I say that “objectively useful = beneficial to society.” This is obvious if you consider another example. Imagine a marketplace for hitmen. Clearly some people would pay for such a thing. Does that make it useful? Maybe? Does that mean we should think it’s a good thing? Probably not.
- carnitine 5y agoAll the people who bought houses due to the ability of financial engineers to lower mortgage requirements by quantifying and hedging risk probably disagree.