I think you've slightly straw manned the lamentation there. Not that I agree with the lamentation, but using your talent to make the rich richer (which is what quants do, they are paid a fixed amount to provide a larger value up the chain), as opposed to advancing human knowledge, is the reason for the lament, not some sort of respectability issue.

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le-mark 9 days ago | parent [-]

Quants benefit from substantial bonus structure as part of their compensation.

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ccppurcell 9 days ago | parent [-]

Well exactly.

One way to make money is to create a great product that solves a problem people have and market it effectively. That's a sort of idealised situation, an aspiration, but it's what I would call socially valuable. Another way is to help people who are already rich move their money around so that they become richer, in return for a fraction of the increase in wealth. I personally have no problem with that, everybody has to make a living, but that is not socially valuable. It is debatable how socially valuable pure mathematics research is. But you take a fixed fee and all your best work is public domain.

	▲	yieldcrv 7 days ago \| parent [-]
		> but that is not socially valuable. Liquidity is extremely socially valuable from my perspective I view the concept of "the market" as a construction project, that isn't finished. Not finished until every device around you can be traded instantly, with fractional shares even, with high liquidity and a capability for to the second price discovery, and there is a liquid options market on top of that. The price of anything is not really resolved, its ability to be collateral and access a more liquid form of exchange at any time is not resolved. Time is valuable, all of this reduces the time. There are still people waiting 90 days to access cash tied up in their home's equity, when another part of the market has split second collateralized lending. All of the market for anything should be that way. The ability to exchange is valuable and wealthy people have liquidity issues. Poor people have liquidity issues. Everyone has a liquidity issue and doesn't know it. Anything that slows things down slows down the whole construction project. A market with five 8 hour trading sessions a week with settlement the next day moves far slower than a market with three times as many trading sessions during the same time frame, where the trade is the settlement. The opportunities become endless for people aiming to accumulate more, the liquidity of traders to do actual business and negotiation and acquire goods and services and raise capital becomes vastly greater and far faster. Proving a new venture all the way to an exit becomes far faster, and results in the wealth distribution to the employees, vendors, and everyone else far faster and far greater. That's what I see and look forward to. That has extremely high social value. Promoting liquidity and promoting velocity of transactions helps solve the actual reservations people have about the market at all. More paths for people on the poorer side of the bell curve to afford things.