Slater's analogy is a good one, as it cuts to the heart of the matter -- though perhaps not quite as he intended.
I do not WANT a gambler handling my finances; I want an investor with plenty of time and resources to eliminate as many variables as possible. The system, as it begins to topple, appears to have been built by INCREASING the number of variables to the point where money was divorced from any underlying value.
If the cap means that the gamblers go elsewhere, then some bright and hungry people of a different sort will step up to fill the gap. Considering the dismal performance of the gamblers, I can't see that as a bad thing.
What Does a Bonus Really Cost? [View article]
I do not WANT a gambler handling my finances; I want an investor with plenty of time and resources to eliminate as many variables as possible. The system, as it begins to topple, appears to have been built by INCREASING the number of variables to the point where money was divorced from any underlying value.
If the cap means that the gamblers go elsewhere, then some bright and hungry people of a different sort will step up to fill the gap. Considering the dismal performance of the gamblers, I can't see that as a bad thing.