[fsloth]

I think it's hard to say what exactly is the specific sin of high-frequency trading, and that it appears as an indistinguishable part of the current market.

Thus critizing high frequency trading appears of critique in general of parties who merely leverage the existing information disparity in the market to the fullest.

The main benefit of the market is that it removes transaction costs. Money has lower transaction costs than barter, bank transfers have lower transaction costs than coffins of money, etc.

Inducing some mechanism that would guarantee full information parity between all agents in the market sound to me like it would eat up lot of the benefits of the lowered transaction costs. Although, I'm not an economist and can be persuaded with better information.

[cmdrfred]

My original query was how do you use capitol that you have for less than a second to hire someone (or do anything for that matter). I'm not aware of a mechanism that would allow HFT to create a job. (Except at a HFT firm perhaps)