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I wouldn't expect the election to immediately boot all the congressfolk out who engage in this activity - and it is a tacitly accepted activity... greed is (muc
by munk-a 5y ago
I wouldn't expect the election to immediately boot all the congressfolk out who engage in this activity - and it is a tacitly accepted activity... greed is (much to the detriment of society) generally considered a virtue in America. However, we have seen several upcoming politicians specifically pledge not to engage in this behavior and get big boosts from their declarations. I think that society is in a place where this behavior is generally considered unacceptable but that it will take a while for that to catch up with congressfolk. I think it is perfectly rational for the behavior to be shamed since, while people aren't overthrowing the government over it - there is a general disapproval of the action.
> If you don't engage in this behavior, you are leaving money on the table and the only person you hurt is yourself and a nebulous, distributed entity we call "society".
I disagree with this statement because I think it is putting too much necessity on maximizing personal gain - there are plenty of reasons not to engage in insider trading and refusing to do so doesn't "hurt" you.