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As a veteran of the finance industry, I can safely say that the industry does make a real contribution to society, however there is a "but" here. It is also ful
by SeanDav 14y ago
As a veteran of the finance industry, I can safely say that the industry does make a real contribution to society, however there is a "but" here. It is also full of ruthless, greedy, narcissistic, over-paid and dangerously short-sighted individuals.
- phaemon 14y agoOr, perhaps, as a veteran of the finance industry, you're a ruthless, greedy, narcissistic, over-paid and dangerously short-sighted individual who would like us to believe the industry makes a real contribution to society. Or maybe not. How should we tell?
- SkyMarshal 14y agoIt's not that hard. Most of finance is about the efficient allocation of capital, and to this point in history our model has worked better than any other. It's not without its problems, namely the boom/bust cycle and propensity for fraud and periodic crises, but there are known solutions to those, if difficult to implement sometimes, especially when governments and regulators are captured to some degree or another. But to say that finance makes a contribution to society is not false.