(Negative) impact of finance sector on economy

I'll stick this here instead of PT.

Is the dominant rise of world banking and finance neutering otherwise robust economies?

quote:

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He suggests, rather, that the financial sector’s gains have been more in the form of economic rents — basically something for nothing — than the return to greater economic value.

Another way that the financial sector leeches growth from other sectors is by attracting a rising share of the nation’s “best and brightest” workers, depriving other sectors like manufacturing of their skills.

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