Sunday, December 27, 2009

Financial sector is too big and unproductive

Several top economists have commented that the financial sector has grown to be too big. They do not create any value, in terms of actual production of goods and services to improve the quality of life. They are a drain on the productive economy and take away the best brains in recent years. They create bubbles and led to the collapse of the financial system.

I agree with these views. You can watch a video of the speeches given by these top economists in the academic section of Temasek Review.

1 comment:

KFC said...

I strongly agree to these views. Financial people are like lawyers who don't create any value to our society. They are just the middlemen. Farmers and engineers should be the one who get rewarded as they create food and useful products for our society but sadly these people's pay are peanuts compared to lawyers and bankers.

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