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> You'd need six people if trading was round the clock, and those people aren't cheap. That's not a good argument. If there were more openings for that kind of
by toyg 4y ago
> You'd need six people if trading was round the clock, and those people aren't cheap.
That's not a good argument. If there were more openings for that kind of position, more people would apply, and average remunerations would get lower.
The real problem is that this would effectively distribute wealth (and access to wealth) more widely, and the ruling classes can't have that as a matter of principle.
- TheCoelacanth 4y agoHigher demand leading to lower prices? That's an interesting hypothesis.
- toyg 4y agoIt's not a hypothesis, it's how the mass-market works. Take computation: as demand rose and rose, prices fell and fell. And yes, the education and career systems have commonalities with manufacturing.
- rfrey 4y agoIn computation, the supply rose much faster (faster chips, cloud computing) than demand until the advent of widespread ML. And I haven't noticed the price falling much in the last few years.
- twic 4y agoHiring six traders instead of two does not strike me as a form of wealth redistribution effective enough to warrant the attention of the all-powerful Illuminati, although i'll ask them next time i see them just in case.