3 ms·
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[e
by 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