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The Sharpe ratio https://www.investopedia.com/terms/s/sharperatio.asp attempts to solve this exact problems. It basically uses how much your rate of returns vary to help you compare the risk of return to lower risk assets.
It absolutely is. Consider elderly people getting scammed. You really want to defend the fact that they aren’t victims?
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They also create large amounts of value. You would get the same tax breaks if you provide the same value for society. You can hate capitalism all you want, but something you can’t argue against is that it motivates people to provide value
Societies force you to ignore certain loopholes in the law.
Murdering people is bad … but terrorists are okay.
Raping animals is bad … but killing is okay.
Killing babies is bad … but abortion is okay.