Economy

How Much Does Wall Street Give Back?

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A small fraction of Wall Street’s capital actually goes into business investment in the real economy

A growing number of voices forcefully argues that the relationship between “Wall Street” and the real economy is tilted in favor of the bankers. Big Think contributor Matt Taibbi sees parallels between the Russian Oligarchs and Wall Street today.

How Wall Street Is Like the Russian Oligarchy Matt Taibbi

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How Wall Street Is Like the Russian Oligarchy

Matt Taibbi

Journalist

01:28

So what economic rationale does Wall Street offer for such an extensive “financialization” of society?

They argue that the financial sector is the most efficient and unbiased allocator of resources to the broader economy. It supposedly does so by quickly and efficiently diverting money to worthy projects in the real world. These might include helping small, medium and large business start new ventures, raise money to invest, create well-paying jobs, and so forth.

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