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It's like that strange period in the 1990s when 40% of US corporate profits came from financial activities, and every big company had to have a finance subsidia
by ddeck 9y ago
It's like that strange period in the 1990s when 40% of US corporate profits came from financial activities, and every big company had to have a finance subsidiary with a trading desk. That's so over.
I realize that you're refering finance activities contribution to the profits of perhaps non-financial firms, but the contribution to GDP from financial services firms has been growing steadily since the 50s and shows no sign of slowing [0].
[0] https://www.wsj.com/amp/articles/BL-REB-15342?responsive=y https://www.wsj.com/amp/articles/BL-REB-15342?responsive=y