/biz/ - Business & Finance

>>55135189
>I think it’s gonna be useful for us to think about and understand what the fundamental value is of what we’re doing. In my eyes, one way to look at it is that the conflict of interest problem has been something that the global financial system has had as a part of it for a very long time. So as you know, the financial system, whether it’s the domestic one or the globally connected one, powers the global economy, the local economy, businesses, capitalism, and all of these things. So at the end of the day, the way that the financial system works really determines a lot of the quality of life we have and what happens in our lives and in the larger world. This conflict of interest problem is one that has existed for hundreds of years, many more years than even people like Adam Smith were talking about it in Wealth of Nations and then more modern economists like Milton Friedman, but really I think this problem is at the core of why things fail and why there is cyclical boom and bust cycles that basically take society for a ride and leave us paying for it.