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Trading: An Evil of the Economy

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Trading: An Evil of the Economy

Post by Vision on Sun Feb 03, 2008 3:34 am

I've been interested in economics recently and I've been thinking how traders are unneeded people. To me there are two types of people in society- producers and leaches. Marxism had a similar idea: that there were workers and those that profited grossly from exploitation of the workers. I don't believe in Marxism because I believe that administrators and the business class deserves to profit from the success of their institution--though their profits should be capped. I feel as though stock traders, or any traders, provide no benefit for society. They provide no service for any other people but themselves. Their profits are earned through speculation. Traders are able to siphon money out of the market while proving no service, no product, and no good for anyone. The same goes to tons of other professions such as professional gambling.
I just posted this as food for thought for all of those that want to get into trading. My question is: how do you find it ethical to enjoy the fruits of someone else's labor when you have not contributed anything positive to humanity
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Re: Trading: An Evil of the Economy

Post by viktorados on Sun Feb 03, 2008 10:46 am

Vision wrote:They provide no service for any other people but themselves.


This is called specialization (everybody does what he/she is good at)
Producers - produce
Sellers/Traders - sell
Consumers - consume

If you'll get a bit deeper into business and economics you'll see that middle-men
are an inseparable part of production-consumption cycle.

Vision wrote:how do you find it ethical to enjoy the fruits of someone else's labor when you have not contributed anything positive to humanity


Don't you think that if companies/businesses would have found a reasonable and easy way to sell directly to YOU their products - they would use this chance at once

And if to talk about ethics here: if sellers/traders are valuable part of production-consumption cycle, why should it be unethical to do their own job

PS Often things are not what we think they are at a first glance
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Re: Trading: An Evil of the Economy

Post by Vision on Sun Feb 03, 2008 6:05 pm

But stock traders don't sell anything. They sell "shares"-- pieces of paper. Once a company gains the necessary capital to run their business, why are speculators necessary What good does this type of profession provide Nothing comes out of it. There are many necessary middle-men, and there are many that aren't.

My objections aren't necessarily against people that participate in legal professions, but against the institutions and structure of economy which diminishes efficiency and production of real wealth.
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Re: Trading: An Evil of the Economy

Post by vain911 on Fri Mar 14, 2008 11:12 pm

Ive never seen thought about it.
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Re: Trading: An Evil of the Economy

Post by viktorados on Sun Mar 16, 2008 12:59 am

Vision wrote:But stock traders don't sell anything. They sell "shares"-- pieces of paper. Once a company gains the necessary capital to run their business, why are speculators necessary What good does this type of profession provide Nothing comes out of it.


Without stock traders, whom could you sell your stocks to if you needed cash
Companies (issuers of stocks) will not bother selling/buying their own stocks on
a daily basis - this would disrupt their core business...
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