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That's a false dichotomy. Obviously finance can help. Vitamin A in small amounts is healthy too. I think most people realise this. A more interesting question
by dmpk2k 12y ago
That's a false dichotomy. Obviously finance can help. Vitamin A in small amounts is healthy too. I think most people realise this.
A more interesting question is whether finance the past 15 years has become a net loss for society, not whether it sometimes does useful things.
- rayiner 12y agoHighly unlikely. There is fat that can be trimmed, but the modern economy would collapse without the finance industry.
- danenania 12y agoGiven that it does bring the economy to the brink of collapse every 10 years or so (and requires massive bailouts), I'd say there's more wrong with the finance industry than a little extra fat.
- rayiner 12y agoA 3-4% dip in GDP and a doubling of unemployment is nothing compared to what would happen without a finance industry. It's one of the bedrocks of civilization. If you want a historical perspective, research how England's finance industry was closely linked to its rise as a world power.
- wavefunction 12y agoNo one is saying get rid of finance, just put it back in its cage and hit it with sticks when it gets too uppity.
- snowwrestler 12y agoThis is like saying that there is something "wrong" with computers because they sometimes crash.