Everyone knows Wall Street is just a racket, soaking up large portions of the surplus and stuffing the pockets of wealthy bankers. That’s especially true since the spectacular crash of 2007-08, when millions lost their jobs and homes.
But many people also harbor the illusion, based on the relentless campaign from mainstream economists and financial journalists, that perhaps Wall Street bankers, even if they’re not doing God’s work, are at least doing something—anything—that is useful for the wider society. Why else would they have been bailed out with taxpayer money and, then as now, be paid such a fortune?
in the time remaining, to help us understand how the man-made system of capitalism will lead to the extinction of our human species, and so many others.
Tuesday, September 6, 2016
Does Wall Street do anything useful?
Click here to access article by economist David Ruccio from his website Occasional Links & Commentary.