The big debate on Wall Street this week surrounds the world of high-frequency traders, the subject of Michael Lewis' new book, Flash Boys. A story on CBS's 60 Minutes this past Sunday featured an interview with the author in a segment highlighting the speed advantage that high-frequency traders have over regular investors, and how they can bid up the price of each transaction as it happens, and make a profit as a result. Since the story broke, however, two camps have formed: one in support of the author's case, and the other suggesting that high-frequency trading has, in fact, stabilized the market with increased liquidity and has resulted in a net positive for investors by dramatically narrowing bid-ask spreads.

In this segment from Friday's Investor Beat, host Chris Hill and Motley Fool analyst James Early take a look at both sides of the argument, with Charles Schwab (NYSE:SCHW) on one side, and Jack Bogle on the other.

Chris Hill has no position in any stocks mentioned. James Early has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.