Re:Billionaire SAS co-founder keeps on coding
by fauigerzigerk on Monday September 21, 2009 @02:56PM
(#835231)
I'm just making a difference between the goals and the means to achieve those goals. The goal is to produce the goods and services we want. Trading is a means to do that efficiently, similar to computing.
Computing, just as trading, has no intrinsic value. It has value only insofar as it achieves its goals. I doubt that trading has been achieving its goals in the most efficient and effective way possible recently.
In 2007 the financial industry in the US made 70% of all corporate profits. Obviously, something was out of balance and it's rebalancing now. Part of that rebalancing will no doubt be a shift of labor away from that bloated financial services sector.
I don't think this critique should be taken as offensive or disparaging at all.
Computing, just as trading, has no intrinsic value. It has value only insofar as it achieves its goals. I doubt that trading has been achieving its goals in the most efficient and effective way possible recently.
In 2007 the financial industry in the US made 70% of all corporate profits. Obviously, something was out of balance and it's rebalancing now. Part of that rebalancing will no doubt be a shift of labor away from that bloated financial services sector.
I don't think this critique should be taken as offensive or disparaging at all.