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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (215412)	1/19/2005 3:44:03 PM
From: neolib	Read Replies (1) \| Respond to of 1574096

LOL. OK. I guess, I don't see it as a scam. I see it as a means to allow people from farflung regions to invest it promising ideas in order to profit from them. This is precisely what a market is all about...efficient allocation of resources. So yes, there will always be scams as long as humans are involved, but the system has safegaurds to minimize that. I agree with you on this, a market is a means (especially in our day of the net) for farflung regions to engage in profitable commerce. I'm just trying to point out that the underlying commodities (business ventures) are less and less important. They simply provide a diversion about which people may gamble. Few economists would admit this. It is this issue of the underlying commodity providing a means for people to gamble that makes for a less efficient market IMO. The market becomes more and more driven by psychology and rumor, and less by sound business choices. Take the electronics industry. I'd love to know the sum total of profit the industry has produced in the last 30 years. Compare that to the sum market cap of the industry. We increasingly expect company wealth to come from stock values, not product profits. Maybe this is just fine. It is certainly a shift in how businesses are viewed.