4 ms·

It would be horrible terrible if society ordered me to go dig trenches, yeah. But if society merely stopped paying me 500K a year to be a history scholar, I thi

It would be horrible terrible if society ordered me to go dig trenches, yeah. But if society merely stopped paying me 500K a year to be a history scholar, I think that might be acceptable. That is, if being a history scholar were as worthless to society as the things investment bankers allegedly do.

smsm42 13y ago
Society does not pay any banker 500K. Their clients and employers might. If you want to prevent it because you think it's bad for the society - it is the same idea as sending you to dig trenches because society thinks it's better for you to be this way. If the society can remove the banker from his job - he can remove you from yours.
- TelmoMenezes 13y ago
  > Society does not pay any banker 500K. Their clients and employers might. Bailouts.
  - smsm42 13y ago
    I was told bailout are necessary to save the economy, not to pay the bankers. By the same regulators btw. Could it be the regulators lied? If so, why would you want more liars in charge?
    - g8oz 13y ago
      Don't forget about the revolving door between the finance industry and the people who regulate it.
      - smsm42 13y ago
        This is called "regulatory capture", I mentioned it in another comment in this discussion.
- cousin_it 13y ago
  I still feel you're radicalizing the question too much. Some jobs are already banned by society even though clients would pay a lot for them. That doesn't make society a dystopia...
- steveklabnik 13y ago
  Their clients and employers are members of society.
- rubinelli 13y ago
  Actually, it's the other way around: investment bankers conned society into giving them cushy jobs. When you look at the bulk of those accounts, what so you see? Pension funds. How much control do average people have over their pension funds? Almost none, because there are all kinds of rules and regulations "to protect the public" -- except that they don't, so the cycles of haphazard investment and bailouts repeat themselves.
  - smsm42 13y ago
    >>> because there are all kinds of rules and regulations "to protect the public" So what you need to fix this? Of course, more rules and regulations. Because there's no problem with rules and regulations that can not be fixed by more rules and regulations.

smsm42 13y ago

Society does not pay any banker 500K. Their clients and employers might. If you want to prevent it because you think it's bad for the society - it is the same idea as sending you to dig trenches because society thinks it's better for you to be this way. If the society can remove the banker from his job - he can remove you from yours.

TelmoMenezes 13y ago
> Society does not pay any banker 500K. Their clients and employers might. Bailouts.
- smsm42 13y ago
  I was told bailout are necessary to save the economy, not to pay the bankers. By the same regulators btw. Could it be the regulators lied? If so, why would you want more liars in charge?
  - g8oz 13y ago
    Don't forget about the revolving door between the finance industry and the people who regulate it.
    - smsm42 13y ago
      This is called "regulatory capture", I mentioned it in another comment in this discussion.
cousin_it 13y ago
I still feel you're radicalizing the question too much. Some jobs are already banned by society even though clients would pay a lot for them. That doesn't make society a dystopia...
steveklabnik 13y ago
Their clients and employers are members of society.
rubinelli 13y ago
Actually, it's the other way around: investment bankers conned society into giving them cushy jobs. When you look at the bulk of those accounts, what so you see? Pension funds. How much control do average people have over their pension funds? Almost none, because there are all kinds of rules and regulations "to protect the public" -- except that they don't, so the cycles of haphazard investment and bailouts repeat themselves.
- smsm42 13y ago
  >>> because there are all kinds of rules and regulations "to protect the public" So what you need to fix this? Of course, more rules and regulations. Because there's no problem with rules and regulations that can not be fixed by more rules and regulations.