Comment Re:Mama don't..... (Score 3, Insightful) 732
This was true when the financial system was focused on directly investing in real businesses and better financial systems meant a better and less costly allocation of capital to those who could use it.
Increasingly however, the talent is being wasted on what are at best zero sum games against other similar players, such as high frequency trading. At worst these activities are actually harmful, and parasitical, on those that benefit the wider economy by profiting traders at the cost of investors (OK those groups are not well defined, you we both know what I mean well enough).
There is also the problem that even on the most optimistic "markets are always right" take on this, there is too much investment in the financial activity because the socialised risk together with privatised profit means that the level of investment no longer reflects the level of risk/