Financial Services Industry: Difference between revisions
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(Created page with "=Figures= *7% of US GDP - [https://www.selectusa.gov/financial-services-industry-united-states#:~:text=Overview,of%20U.S.%20gross%20domestic%20product.] *20% of US GDP - [htt...") |
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*One must remember that the reason why financial services are huge - is the unbridled productivity of modern machines, such as 500hp tractors and 450 ton dumptrucks costing $6M. | *One must remember that the reason why financial services are huge - is the unbridled productivity of modern machines, such as 500hp tractors and 450 ton dumptrucks costing $6M. | ||
*Financial services are not completely out of control - not like they are as large or larger than the rest of the economy. | *Financial services are not completely out of control - not like they are as large or larger than the rest of the economy. | ||
*If the growth of finance capital continues, several historical cased all ended up in collapse. This is a thing: called [[Financialization]] | |||
*It is also instructive to read about [[Finance Capitalism]] as opposed to liberal capitalism. | |||
Latest revision as of 16:27, 3 July 2020
Figures
Analysis
- Simplistic analysis - If 20% of US GDP - then 1 in 5 people work in the financial industry? If not, then there is concentration of capital.
- One must remember that the reason why financial services are huge - is the unbridled productivity of modern machines, such as 500hp tractors and 450 ton dumptrucks costing $6M.
- Financial services are not completely out of control - not like they are as large or larger than the rest of the economy.
- If the growth of finance capital continues, several historical cased all ended up in collapse. This is a thing: called Financialization
- It is also instructive to read about Finance Capitalism as opposed to liberal capitalism.