[FoRK] Haves / Have Nots, was: Re: Education Union, was: Re: Wall Street Isn't Winning – It's Cheating

John Parsons bullwinklemouth at yahoo.ca
Sat Oct 29 15:52:50 PDT 2011


Whether finance or economics, the main practitioners are taking themselves far too seriously... too bad everyone else does as well.

http://www.theglobeandmail.com/news/politics/economics-has-met-the-enemy-and-it-is-economics/article2202027/page1/

JP


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There's a lot wrong with the fact that while we dropped most layers of middlemen in most industries, we've got this thick layer of middlemen skimming apparently huge amounts at the financial level.  The fact that the financial "industry" is also skimming (half in this case!) the best and brightest who could be doing actually productive things is almost criminal.  The financial industry is very important in a lot of cases, but their outsized profit taking and apparent talent black hole is probably not nearly as efficient as it should be.  Their job is supposed to be to wring efficiency out of the system, but they seem unable, to paraphrase Starling, to "Shine that powerful intellect upon yourself."  They are addicts in denial who cannot help themselves.


> sdw


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