Economy: Economic News, Policy & Analysis - The Washington Post: Is financial industry big, costly, and inefficient?

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Is financial industry big, costly, and inefficient? Mar 1st 2012, 15:38 That's the conclusion of a new paper from Thomas Philippon. He measures the cost of the financial industry's activities and compares it to the sector's actual production of assets and liquidity, concluding that the financial industry provides fewer products of social value than its actual share of GDP. James Kwak of The Baseline Scenario summarizes: Read full article >> Featured Advertiser Chicago Booth Business Forecast Ads by Pheedo

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