My understanding of why (the iPhone app store) is supposed to be good for society is that (it provides customers with many useful applications and games). It has the nice side effect of (putting money in the pockets of many small developers). I fail to understand how (1,000 different bodily-function simulation applications) forwards either of these goals. Maybe someone can explain why this is a good thing to me, but this really seems like a perversion of what (the app store) is supposed to be good for.
Markets exist because people want to be able to buy and sell things efficiently, in one place, and make money. They are not out to serve a charitable goal. Buy-and-hold investment is not somehow "better" or more moral than fast trading, both are just choices made by individuals, companies, or computer algorithms operating on their behalf.
Think of it this way -- there is a buyer or seller on each side of every transaction this algorithm does, who is willingly (even urgently) entering into that transaction.
Markets exist because people want to be able to buy and sell things efficiently, in one place, and make money. They are not out to serve a charitable goal. Buy-and-hold investment is not somehow "better" or more moral than fast trading, both are just choices made by individuals, companies, or computer algorithms operating on their behalf.
Think of it this way -- there is a buyer or seller on each side of every transaction this algorithm does, who is willingly (even urgently) entering into that transaction.