While I have no opinion on HFT myself, I don't think its value is firmly established (e.g. for a layman version of some of the arguments: http://marginalrevolut

While I have no opinion on HFT myself, I don't think its value is firmly established (e.g. for a layman version of some of the arguments: http://marginalrevolution.com/marginalrevolution/2011/10/more-on-high-frequency-trading-and-liquidity.html http://marginalrevolution.com/marginalrevolution/2011/10/mor...)