Monday, February 6, 2012

Wall Street inefficient AND decreasing U.S. pool of entrepreneurs

Here is yet another reason why Wall Street is evil and a drain on the real U.S. economy:

"The problem is that when you've got 20 to 30 percent of some of the top talent in this country going into a sector that is not necessarily contributing to economic and social productivity."

The financial industry represented only 2.8 percent of U.S. GDP in 1950 -- and it represents 8.4 percent today, its highest share ever, even compared to 2006 (before the financial crisis). In the U.S., "the financial sector has become steadily less efficient." One economist argues that finance should be only about 6 percent of the U.S. economy.

Stopping The 'Brain Drain' Of The U.S. Economy

February 5, 2012 | NPR


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