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Comment by rbarooah | Hacker News Reader

Finance firms put 100% of their time and energy into finding ways of making money out of existing money without producing any other value.

Entrepreneurs do a little of this too, but foolishly allow themselves to be distracted by an irrational desire to also make novel and valuable contributions to society.

Eventually the entrepreneurs will learn that a part time effort won't cut it and they can't beat the guys who give it 100%

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Google. Zynga. Facebook. Intel. eBay. Apple. etc.

All needed bankers to get them access to capital and grow faster, helping them hire more employees and contribute to our economy's growth and standard of living. I'd highly recommend you rely your points on empirical evidence over populist talking points.

The evidence is that the finance industry has grown faster than all of the other sectors, proving my point.

I'd highly recommend that you rely your points on empirical evidence than empty claims.

What does that even mean? Economic growth has grown consistently. Technology now makes up a large portion of our GDP when it hasn't in the past. Why attack the finance industry when you could also attack the technology industry?

There's more demand. Therefore, there's a larger supply. Simple, basic, very elementary economics.

The financial industry makes up a much larger portion of GDP growth. Artificial growth that would have contracted if it hadn't been bailed out. Demand for the financial industry has been produced by force, not through the marketplace, unlike other industries.

Your simple, basic, elementary economics don't apply when an industry is being protected by the government.

Zynga contributed to the economy's growth? Really? Farmville increased average worker productivity?

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