What good had Wall Street ever done for America? “There must be something useful in there, but it is really hard to see what,” he says. “That’s everybody’s challenge: come up with a clearly beneficial example of financial innovation without mentioning A.T.M.s, and no one can do it."
That's Krugman, but I've heard this from lots of people. I hate bankers as much as the next guy, but what about a clearly beneficial innovation in the car industry without mentioning the seat belt? Yet cars have been consistenly getting faster, safer, and cheaper. What about a clearly beneficial innovation in molecular bioscience? You get the point. All this 'innovation you can point your finger to' stuff I really don't get.
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