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These money hungry HBS graduates perform jobs that are in themselves so boring, stressful and costly on a personal level that nobody would do them if it weren't

by dilemma 10y ago

These money hungry HBS graduates perform jobs that are in themselves so boring, stressful and costly on a personal level that nobody would do them if it weren't for the large rewards they come with -- creating new technological infrastructure and organizations that supply society with the products and services it needs.

chrisbennet 10y ago
Do you mean jobs in finance? I'm not so sure society really needs most of the products and services finance generates.
- dilemma 10y ago
  Societies need financial infrastructure. Very little of it can be replaced with software, and innovations in finance is just as important to economic development as technology is.
  - wwweston 10y ago
    The necessity of financial infrastructure seems pretty easy to take at face value. The idea that "very little" of it can be replaced with software seems like it might need more support than a bare assertion.
  - chrisbennet 10y ago
    While society needs a certain amount of financial infrastructure we can probably don't need the massive amount of finance biz that we have now. "Market share[edit] US[edit] As of 2004 the financial services industry (finance industry) represented 20% of the market capitalization of the S&P 500 in the United States.[citation needed]" - https://en.wikipedia.org/wiki/Financial_services https://en.wikipedia.org/wiki/Financial_services As Warren Buffet once said: "It has always been a fantasy of mine that a boatload of 25 brokers would be shipwrecked and struggle to an island from which there could be no rescue. Faced with developing an economy that would maximize their consumption and pleasure, would they, I wonder, assign 20 of their number to produce food, clothing, shelter, etc., while setting five to trading endlessly on the future output of the 20?" -Warren Buffet
- rbanffy 10y ago
  In fact, it can be argued the whole portfolio of financial products we have now is a negative value to society.

by dilemma 10y ago

chrisbennet 10y ago

Do you mean jobs in finance? I'm not so sure society really needs most of the products and services finance generates.

dilemma 10y ago
Societies need financial infrastructure. Very little of it can be replaced with software, and innovations in finance is just as important to economic development as technology is.
- wwweston 10y ago
  The necessity of financial infrastructure seems pretty easy to take at face value. The idea that "very little" of it can be replaced with software seems like it might need more support than a bare assertion.
- chrisbennet 10y ago
  While society needs a certain amount of financial infrastructure we can probably don't need the massive amount of finance biz that we have now. "Market share[edit] US[edit] As of 2004 the financial services industry (finance industry) represented 20% of the market capitalization of the S&P 500 in the United States.[citation needed]" - https://en.wikipedia.org/wiki/Financial_services https://en.wikipedia.org/wiki/Financial_services As Warren Buffet once said: "It has always been a fantasy of mine that a boatload of 25 brokers would be shipwrecked and struggle to an island from which there could be no rescue. Faced with developing an economy that would maximize their consumption and pleasure, would they, I wonder, assign 20 of their number to produce food, clothing, shelter, etc., while setting five to trading endlessly on the future output of the 20?" -Warren Buffet
rbanffy 10y ago
In fact, it can be argued the whole portfolio of financial products we have now is a negative value to society.