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Agree. it has been argued that the whole financial industry is indirectly subsidized by the government for being too big to fail. Elon states that many forbes
by seferphier 13y ago
Agree. it has been argued that the whole financial industry is indirectly subsidized by the government for being too big to fail.
Elon states that many forbes list billionaires receive huge amounts of profit from the subsidies (oil, agriculture)
- rayiner 13y agoYes, finance is heavily subsidized, but so are many other major industries. The tech industry is also heavily subsidized, by design, and is indeed one of the original recipients of such subsidies. Many of the land-grant universities founded in the 1800's were specifically designed to train engineers to go into what was the high-tech industries of the time. Crossing the line from providing people a general education to specifically training people with the skills relevant to a particular industry and thereby reducing that industry's training costs is a form of subsidy, one that continues to this day.