You're again using the confused notion of "value". The HFTs are taking value away from others to themselves, not creating new value (at least if we reject the e

You're again using the confused notion of "value". The HFTs are taking value away from others to themselves, not creating new value (at least if we reject the extra liquidity as a positive value). Societies will succeed more or less based on various parameters, one of which is whether they generate value to sustain themselves or not.