IssueRaiser

Yeah, that argument doesn't work for me.

Yeah, that argument doesn't work for me. Creating arbitrary, unnecessary inefficiencies in the market does not benefit a society economically in the long-run – and is bad mechanism for wealth redistribution. Why not ban ATM's to provide bank teller employment? Or ban self-checkout at grocery stores? Let's not forget all of those poor elevator operators out of work. Maybe we should go around breaking windows to create work for local glaziers? ( http://en.wikipedia.org/wiki/Parable_of_the_broken_window ) I appreciate the sentiment of wanting to provide low-skill employment opportunities, but this is not the way to do it. It's provably bad logic.

Posted by Tenhundfeld on Mar 20, 2015, 4:02 PM

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hackernews (FinTech)

Yeah, that argument doesn't work for me.

TenhundfeldMar 20, 2015, 4:02 PM

Yeah, that argument doesn't work for me. Creating arbitrary, unnecessary inefficiencies in the market does not benefit a society economically in the long-run – and is bad mechanism for wealth redistribution. Why not ban ATM's to provide bank teller employment? Or ban self-checkout at grocery stores? Let's not forget all of those poor elevator operators out of work. Maybe we should go around breaking windows to create work for local glaziers? ( http://en.wikipedia.org/wiki/Parable_of_the_broken_window ) I appreciate the sentiment of wanting to provide low-skill employment opportunities, but this is not the way to do it. It's provably bad logic.

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