I wonder if they do. The wizarding world is a bizarre mix of modern and ancient traditions. It seems just as likely for them to have an income tax as not. So, they may or may not have the bureaucratic apparatus in place to know how much money people have and make.
I also wonder what the official stance would be on, say, bilking the stock market. It seems like standing up for muggle rights would be an unpopular political stance. Since there’s no direct victim and you’re doing things that aren’t even illegal in the muggle world (nevermind they don’t have time-travel), it seems unlikely the authorities would care to stop you, unless they have a blanket ban on anything that would result in inflation.
God, I’m such a double-nerd. There’s a dark lord to be fought and I’m hoping the next plot arc is about wizard tax law and how magical Britain handles inflation.
The funny thing is, it’s not really bilking the stock market. The whole argument for stock trading is that traders create value by accurately pricing securities, and thus allocating capital efficiently. Time travel is just a ridiculously efficient means of doing so. Given common access to Time-Turners, the stock market would literally be perfectly efficient(assuming that using turner-induced stock prices doesn’t violate the 6-hour rule). People without them would be very pissed off, but I’d actually argue it as being the right and proper way to run a stock market if the technology existed.
The only thing is, once you have enough time turners to control most of the volume of the market, there are no longer any linear-time causal inputs (read: people) deciding what directions the market will take. Market fluctuations would literally come from nowhere, though it might be best said that they would come from Time. And given Harry’s previous scary experiment (DO NOT MESS WITH TIME, ch. 17), I’m not sure it’s such a good idea to let Time be the one to control this.
I also wonder what the official stance would be on, say, bilking the stock market. It seems like standing up for muggle rights would be an unpopular political stance. Since there’s no direct victim
Bolded word is redundant. This is a service being provided and nobody is having wealth that they have ‘rights’ to taken away. This is different in nature to using using time travel or to win at cards or roulette.
The muggles end up better off than they were AND Harry is better off. Almost as though it is a trade.
I wonder if they do. The wizarding world is a bizarre mix of modern and ancient traditions. It seems just as likely for them to have an income tax as not. So, they may or may not have the bureaucratic apparatus in place to know how much money people have and make.
I also wonder what the official stance would be on, say, bilking the stock market. It seems like standing up for muggle rights would be an unpopular political stance. Since there’s no direct victim and you’re doing things that aren’t even illegal in the muggle world (nevermind they don’t have time-travel), it seems unlikely the authorities would care to stop you, unless they have a blanket ban on anything that would result in inflation.
God, I’m such a double-nerd. There’s a dark lord to be fought and I’m hoping the next plot arc is about wizard tax law and how magical Britain handles inflation.
The funny thing is, it’s not really bilking the stock market. The whole argument for stock trading is that traders create value by accurately pricing securities, and thus allocating capital efficiently. Time travel is just a ridiculously efficient means of doing so. Given common access to Time-Turners, the stock market would literally be perfectly efficient(assuming that using turner-induced stock prices doesn’t violate the 6-hour rule). People without them would be very pissed off, but I’d actually argue it as being the right and proper way to run a stock market if the technology existed.
The only thing is, once you have enough time turners to control most of the volume of the market, there are no longer any linear-time causal inputs (read: people) deciding what directions the market will take. Market fluctuations would literally come from nowhere, though it might be best said that they would come from Time. And given Harry’s previous scary experiment (DO NOT MESS WITH TIME, ch. 17), I’m not sure it’s such a good idea to let Time be the one to control this.
Bolded word is redundant. This is a service being provided and nobody is having wealth that they have ‘rights’ to taken away. This is different in nature to using using time travel or to win at cards or roulette.
The muggles end up better off than they were AND Harry is better off. Almost as though it is a trade.
(Essentially I just agree with Alsadius.)