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You do realize companies that provide those valuable goods can grow faster, hire more people, and grow our economy's GDP much quicker, with more capital, correc
by med555i 16y ago
You do realize companies that provide those valuable goods can grow faster, hire more people, and grow our economy's GDP much quicker, with more capital, correct?
- rbarooah 16y agoNo. Not correct at all. There is no evidence whatever showing that the current size of the financial industry caused faster growth, more hiring or GDP growth other than the financial industry itself.
- med555i 16y agoThat is a complete straw man. Please stop using straw man arguments.
- rbarooah 16y agoHow is it a straw man? You claimed something, and I said there was no evidence for it. I guess you just don't have any evidence.
- rbarooah 16y agoAnd since we're on the subject of evidence - what do you think of this: The private goods-producing sector value added fell 6.4 percent in 2009, after a 4.2 percent decline in 2008. The private services-producing sector declined by 2.1 percent, after a 0.4 percent increase in 2008. The finance and insurance industry grew 6.1 percent in 2009, partially offsetting the widespread economic decline. The increase was primarily driven by the strong recovery of the insurance carriers industry. From a December 2010 report from the government's bureau of economic analysis. http://www.bea.gov/newsreleases/industry/gdpindustry/gdpindnewsrelease.htm http://www.bea.gov/newsreleases/industry/gdpindustry/gdpindn...