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Gambling Is A Feature Of Capitalism—Not A Bug

FYI: It has always been part of financial markets, from their origins in 17th-century coffee houses to the Great Crash of 2008.
Regards,
Ted
https://www.prospectmagazine.co.uk/magazine/gambling-is-a-feature-of-capitalism-not-a-bug

Comments

  • Okay, but gambling with OTHER people's money should be a crime. Just calling it speculation should not excuse it.

    The stock market is licensed gambling. No one will refute that. However there are certain rules which should govern what is right and wrong. Feature and Bug are not appropriate words IMO to describe capitalism. First of all Features have Bugs. Bugs can't exist by themselves. It is when you try to implement nasty complicated Features is when you create Bugs that can collapse the system, otherwise called as Innovation, but only when it works, and only in hindsight.

    I hereby protest the use of technical terminology to describe economic systems. Or I'm going to start penning articles such as highly scalable open heart surgery, or highly fault tolerant knee replacement, or therapy session in the Cloud.
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