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>But you have to ask yourself why the finance sector have been on the rise and the answer to that inevitably become technology It's not technology at all. Tech
by crdoconnor 11y ago
>But you have to ask yourself why the finance sector have been on the rise and the answer to that inevitably become technology
It's not technology at all. Technology doesn't confer the monopoly powers which have led financial giants to be so dominant. Technology can be copied, reproduced and replicated.
The reason is much more mundane. The financial sector has been given dumptrucks full of cash and special privileges in the form of valuable guarantees. They're an adjunct of the government in all but name.
- ThomPete 11y agoThis trend happens everywhere around the world. Even in social democratic countries like the Scandinavian countries this is happening and is only slowed down by the strong redistribution of wealth. So yes regardless of how tight or lax the regulation is same trend is seen everywhere and the only thing they have in common is the use of technology. Ignoring that is simply lying to ourselves.