alt Hacker NewsIf the passive investor class wanted more and better options to collect profits with low long-term risk they would actually support that kind of restructure - but alas it's all very short=sighted profit taking now that actually hurts long term growth.
It's no small irony that Buffet's retirement aligns with the close out as an iconic holdout of long view valuation - even his more recent moves I think showed some retreat from his previous values. Perhaps not really his direct fault, but he had fewer and fewer good investment options as time went by.
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the problem is that every time the shortsightedness crashes the economy, the rest of us have to bail them out and the thing keeps on chooglin. They have no incentives to behave otherwise
Even if vicious profiteering is actually the better long-term strategy (and it is, because outpacing your competitors leads to market dominance), if it is the more destructive strategy, it should come with consequences at the very least. Personally, I’d like to see a society structured in such a way that makes vicious profiteering a non-option in the first place, but that’s a bigger problem to solve.
These things continue until we criminalize it.
Slavery kept going until we said that's illegal.
Child labor kept going until we said that's illegal
Putting heroin in baby food formula kept going until we said that's illegal.
We don't defer to the free market for everything.
Nobody is like, well child porn, I guess there's a market demand for it so it's right over there with the magazines
It is neither strange nor unusual to value things more than the freedom of the market. We do it all the time.
We should do that with societal harms and not just individual ones. Criminalizing obvious crime shouldn't be some kind of wild eyed fantasy. It should have been done 150 years ago.