Saturday, September 24, 2011

Bankers do produce things, as services count as go...

Bankers do produce things, as services count as goods in the economy. The GDP consists of both the goods and services of the economy. Bankers may for the most part be a bunch of corrupt SOBs, but one of the major misconceptions about financiers overall, one that goes back centuries, is that they are just leeches on the system, that they just "move money around," but don't really contribute anything of value to the economy. This is not true. They provide very valuable services to the economy, providing specialized knowledge, and without them, the economy would not be able to function.

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