I'm not saying people in the financial services industry don't work, and don't serve a productive function, but given that they don't actually produce wealth directly, they sure as hell know how to appropriate a hugely disproportionate portion of it. notes from no w here
given that they don't actually produce wealth directly, they sure as hell know how to appropriate a hugely disproportionate portion of it.
That's because appropriating wealth is the only kind of work that matters.
Merely producing it is what the disposable slaves are for.
It has always struck me as ironic
Not so much ironic as baldly logical? Some people have to be kept at work, even for less than a living wage, to keep the real revenue streams flowing on which the financial world builds its money-spinning house of leveraged cards.
those who actually produce nothing, but who make fortunes trading the output of productive workers - should be the first to espouse the work ethic and to decry real workers as lazy, indolent parasites.
What I find striking is the vehemence with which they deny the importance of those on whose contributions they depend. It is as if, having subconsciously acknowledged their fundamental parasitism, they need to repress it absolutely.
Maybe they're not as proud of what they do as they pretend. The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman
