Structural Violence in Economics

At least in the financial markets. I found this article on the Anti-Media.org website. They claim to have found the article on WTF news.

At any rate, it seems that wall street types have been known to take advantage of information asymmetries in the markets to maximize their own profits at the expense of their customers. The article provides a list of 28 different methods that are used to “rig” the system. The article even provides a handy definition of what they mean by rig.

I guess it goes without saying that Wall Street and its denizens seem to lack a moral compass. It is my understanding that in the world of the financial markets it is not necessarily illegal to mislead your clients; at the very least, it doesn’t seem to be illegal to neglect to tell a client that the trades a broker is offering might have a tendency to enrich the broker at the expense of the customer.

I lack expertise in this area. Honestly, I have never really considered the possibilities of structural violence in financial markets. Here it is, however. It seems that the world is indeed tougher and meaner than even I can imagine it to be.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: