Socialists should love investment banks

[Hauldren Collider]

This is why I intend to invest in index funds

[KrazyHorse]

It's not simply that risks are distributed....the mean decision itself is better.

And yes, this is the right argument.

Now formulate it into a troll. Mention hierarchical governance structures, separation from the details and agency problems.

[KrazyHorse]

Also, use the term "Hayekian" freely...

[Hauldren Collider]

The thing is though that fiscal conservatism doesn't break down as an argument because of the success of investment banks. investment banks are in competition with one another with clear, direct incentives on consumers to pick a good investment bank, which means that overall the market is still making aggregate choices...just slightly filtered. And IBs follow the market themselves, so you're basically trying to get a good economic weatherman, if that analogy works.

(is that right?)

[KrazyHorse]

HC this is not necessarily something you need to believe.

Cast IBs as central planners. Describe their place at the commanding heights of the economy.

[KrazyHorse]

effing dp

[Bugs ****ing Bunny]

Now formulate it into a troll. Mention hierarchical governance structures, separation from the details and agency problems.

Too dry. Good trolls have to keep the audience interested. Work in something about anal bleaching at some point.

[Krill]

Obama is a ******?

That a simple enough troll? or should I comment that if Obama really cared about people, he wouldn't have wiped billions off BPs' share price, and damaged so many peoples retirement funds?

[duke o' york]

Also, use the term "Hayekian" freely...

I would, and Hakeyian freely at that!

[Kuciwalker]

Cast IBs as central planners. Describe their place at the commanding heights of the economy.

So, basically what I said

[Cort Haus]

Unless the IB's are manifestations of the workers' control of the means of production this is surely all meaningless.

Now, perhaps if they were run by some kind of banking Soviets ...

[Cort Haus]

What is the single best argument for fiscal.conservatism/small government? What is the single best argument against socialism?

"I'm alright, Jack" is always the best argument for or against anything.

[KrazyHorse]

So, basically what I said

Kuci, you missed the broader point. EMH does not imply Hayekian reasoning.