Tuesday, July 9, 2013

Crunch Time

We're entering the final stretch of class, and the work is piling up. Our group has been staying up late to get our austerity research project ready to go for Friday. We also have our final test on Thursday, but after a long review session in class, I feel ready.

We also learned about something that really sparked my interests. A big controversial topic in economics is the use of computers to automatically buy and sell stocks. Programmers use certain programs and algorithms that can predict the rise and fall of different markets. From there, within milliseconds, the computer can buy and sell stocks faster than any human being. The programmers claim that thus far, they have never had a net loss of money. The argument is, there needs to be regulations over computer trading because they steal the profit from those who aren't fast enough or can't afford the same computers. Personally I have no opposition to the computer trading. We live in an accelerating age of technology, and if that technology means having a quick and efficient market, so be it. The traders at a disadvantage should adapt or find a new line of work, as harsh as that sounds. My only problems with all the technology is that either A: One machine could do something incorrect and crash the market. Or B: Wars could be fought with some sort of EMP device that will wipe out all our electronics, and destroy the economy. The future holds many interesting prospects.
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