2 ms·
GDP is the total value of goods flowing through the economy (more or less), not the total value of all property so it's not a very meaningful comparison. By thi
by akiselev 10y ago
GDP is the total value of goods flowing through the economy (more or less), not the total value of all property so it's not a very meaningful comparison. By this measure, Vanguard's $1.7 trillion assets under management account for over 10% of US GDP but obviously that's incorrect, that money is just parked across a bunch of assets.
The US manufacturing industry is about $3 trillion a year in actual industrial production and the tech industry has way less leverage, let alone political clout.
Edit: the total market cap of the S&P 500 broke $15 trillion in 2013 and as of 2015, all of the companies in that index didn't even employ a fifth of US workers. Add in all the spending and investment property that doesn't make it into S&P figures (govt taxes + bonds, real estate, etc) and I bet the total number is probably >$100 trillion.