Kim Spence-Jones on Nostr: nprofile1q…s60lz nprofile1q…3xv4c A great read! The only sentence I disagree with ...
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A great read! The only sentence I disagree with is “In the financial economy, it is a zero-sum game, where the winner takes the losers’ money.” That’s not totally true. The financial economy has to make a profit, and it does so by extracting some of the profit from the real economy. It is in fact largely parasitical. Yes, some services such as insurance and currency hedging are worth paying for, but many are not, and in fact do great damage.
A great read! The only sentence I disagree with is “In the financial economy, it is a zero-sum game, where the winner takes the losers’ money.” That’s not totally true. The financial economy has to make a profit, and it does so by extracting some of the profit from the real economy. It is in fact largely parasitical. Yes, some services such as insurance and currency hedging are worth paying for, but many are not, and in fact do great damage.