These are also much more sensitive to what everybody else is saying or doing than is the case with foreign trade or economic growth. Therefore, herding becomes unavoidable. I am sure you will agree that all dealers prefer to be wrong with everyone else rather than being wrong alone!
Such distortions would give rise to a sense of unfairness among those in different functional roles, such as lenders and borrowers, or employers and employees. The possible loss of trust in social fairness and equality would affect work ethic and incentives.