From the comments: Doctors and Bankers
Jesse Ewiak writes:
If I go to a doctor and he tells me I need this procedure and it turns it out it ruins my life, it’s perfectly reasonable to blame the doctor. Yet, I say the same thing about a banker and I hear calls of personal responsibility. I guess I should’ve known medical jargon just like I’m expected to be able to parse a 60-page document.
Simple question for the gentle-persons of the league:
1. Is there in practice a difference between the doctor-patient relationship and the banker-client relationship?
2. If so, what? Is it one merely in degree or is it a more qualitative difference?
3. What is the nature of the power differentials in these relationships anyway?
4. Should there, be a difference?
5a. If there shouldn’t be a difference, then in what direction do we resolve the difference. What should the doctor-patient relationship really be like?
5b. If there should be a difference, what should the difference be like?
My own intuition on this is that doctors do tend to have more power over patients than bankers over their clients. It seems really difficult (or even impossible) to deal with sickness and secure good health without going to a doctor. By contrast I can secure wealth without going to a banker (except to start a savings account). I just have to bone up on my skills, keep myself up-to-date and upgraded to stay ahead of the changing economy in the good times so that I will not be caught up if and when the economy turns south. I don’t have to buy a single financial product to do this. As long as we remember that there isn’t really any such thing as a free lunch (which is while strictly speaking not true, but still good enough as precautionary heuristic) then most of us middle class wage earners shouldnt dabble in the financial sector. (My parents are so bad at this that almost anytime they buy a financial product, no matter how secure that product was touted to be, the bubble bursts and they lose money. It’s almost as if my parents’ purchase of said product is a leading indicator of its over-inflated value)