by sridharvembu on 5/6/14, 5:15 PM with 1 comments
I had a debate with pg that the biggest wealth in the past 15 years has been created in Finance, not Technology. Thanks to years of misbegotten Federal Reserve policy, the economy is now heavily financialized. If you want another proof, look at the list in this URL, and keep in mind this is all for just one year.
by sridharvembu on 5/6/14, 5:25 PM
I had a short debate with pg a while ago on HN, where I said something to the effect "Finance has created far more wealth in recent years than technology or entrepreneurship". I don't think that trend is good for the economy but that is the inevitable consequence of the monetary policy the Fed has been running. The economy is well and truly financialized, and finance rules.