I tend to agree that this would end the silly myth that markets are perfect, information is symmetrical and institutional power is irrelevant to markets, driving a nail in the heart of neoclassical equilibrium based on perfect markets, symmetrical information, and equal players pursuing maximum utility rationally. Then the truth would be obvious that financial markets are biased.
It's already obvious that final goods markets are not competitive markets due to fixed instead of flexible (negotiated) pricing, along unequal market power that leads to artificially imposed scarcity. That in turn takes down the myth on which the neoliberal narrative of market capitalism is based.
And anyone can easily see that the simplest way to reduce crime is make it legal. Think of all the money that could be saved by eliminating security, oversight, and accountability.
CNBC NetNet
Why insider trading should be legal
John Carney | Senior Editor
3 comments:
Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take away from them the power to create money, and all the great fortunes like mine will disappear, and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money.
~ Josiah Stamp – Bank of England Chairman, 1920
The asset shufflers are a parasite on the real wealth of society. The financial terrorists create nothing, the hedge funds create nothing, all these people do is increase their position against the real wealth of society. I say compare Einstein, Bernouli, Darwin, Dr. Salk, Newton, etc. to the likes of Cohen and his offspring hedge funds. I say close them all down.
Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take away from them the power to create money, and all the great fortunes like mine will disappear, and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money.
~ Josiah Stamp – Bank of England Chairman, 1920
The asset shufflers are a parasite on the real wealth of society. The financial terrorists create nothing, the hedge funds create nothing, all these people do is increase their position against the real wealth of society. I say compare Einstein, Bernouli, Darwin, Dr. Salk, Newton, etc. to the likes of Cohen and his offspring hedge funds. I say close them all down.
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