Re:This Is What One Half Second of High Speed Trading Looks ...
by baddox on Thursday May 09, 2013 @02:05PM
(#5681965)
> The question is: Does fast trading provide a net positive to society?
Why is that the only or most important question? How do you even define "a net positive to society"? Are we talking about utilitarianism, and if so, are we trying to maximize the total utility, or the average utility, or perhaps the minimum individual utility? Does my eating a candy bar provide a net positive to society? And even if something can somehow be shown to not provide a net positive to society by some metric, should it therefore be prohibited by the threat of violence (i.e. made illegal)?
Why is that the only or most important question? How do you even define "a net positive to society"? Are we talking about utilitarianism, and if so, are we trying to maximize the total utility, or the average utility, or perhaps the minimum individual utility? Does my eating a candy bar provide a net positive to society? And even if something can somehow be shown to not provide a net positive to society by some metric, should it therefore be prohibited by the threat of violence (i.e. made illegal)?