Slashdot Mirror
Official — Economic Crash Not Computers' Fault
itwbennett writes "A 2-year government investigation has found what we pretty much all knew to be true: High speed trading systems were not the cause of the 2008 economic crash. 'The crisis was the result of human action and inaction, not of Mother Nature or computer models gone haywire,' according to a leaked copy of the report's conclusions revealed in the New York Times."
So the guy(s) that organized everything and told others what was needed from each part to create a greater whole owes his riches to those who only perform one job? If someone agrees to work for X, I owe them X+Y if their work allows me to profit? The entire economy is based on taking a product at one level, combining it with others or modifying it and selling it to a level closer to the consumer for a profit (regardless of what the product is). If I buy 300 widgets from you, and 300 widget mounts from someone else, and sell a kit for (Cw + Cm) * 1.5 I don't owe you or the other manufacturer anything beyond the original cost unless you've stated otherwise in the sales contract. If you want your job to pay you extra for company profits, find one that offers stock options. As it is you, as an employee, take zero risk on losing money if the company fails and so should have no expectation of additional gains if the company profits. You get paid X for product Z (being your specialty knowledge or work).