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Unless you consider liquidity to be valuable? No?
by vanattab 5y ago
Unless you consider liquidity to be valuable? No?
- SkittyDog 5y agoIt's not about whether something is immediately valuae to somebody... It's about whether the total net effect on society produces new value, or if it's just shifting value from someone to another. Per the overwhelming opinion of economists, providing liquidity is rent seeking, because the benefit it provides to one person is exactly offset by the value it takes away from someone else.