So a good friend of mine is adamant that financial intermediaries contribute nothing beneficial to society. Despite everything I've explained to him, he's still set in his ways that they are completely unnecessary and are nothing more than an extension of greedy middlemen sponging off the system. Apparently my arguments that they serve to reduce risk, increase liquidity, and allow for better information are falling deaf on his ears. Maybe I'm not approaching this argument correctly, so what do you all think?
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If command and control economies were more efficient wed be speaking russian.
Get a new friend.
Hahaha best logic I've heard.
The most correct approach would be to not waste your time in pointless arguments. Easier said than done, but the reality is that most people hold their opinions not necessarily because they are logical, but rather because they make them feel good. People usually ignore information that threatens to shake up the model of the world they have in their heads.
Have sex with his sister, and then explain to him how he was the intermediary. Maybe this will help him grasp simple economics.
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