Perverse economic incentives: not good for society

  • (a) society as a whole will not progress as much, and
  • (b) if other countries continue to pour resources into science and technology and medical research then they will be the ones inventing the technology and medical breakthroughs that will dominate the next few decades. This means that they will be the dominant countries of the world in the next few decades, and not the countries whose brightest talents were wasted coming up with stock market trading algorithms.
  • trulov24 responded: Well said. Too bad we have no good solutions yet.
  • asdflk responded: I think the problem is a system that is gamed to favor the financial industry. Isn’t that what the 99% movement is trying to bring attention to? Obama tried to reform the finance industry after the 2008 crash, but the Republicans and banking lobbyists fought him back, and the results were timid.

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