Mach
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While reading up on poverty in the U.S., I came across this.
https://en.wikipedia.org/wiki/Economy_of_the_United_States
I admit I was surprised to read that. Thoughts?
I'm in R&D, and I use Vanguard for investment (low cost picks), I think I am not exacerbating this issue..I hope!
https://en.wikipedia.org/wiki/Economy_of_the_United_States
A 2012 International Monetary Fund study concluded that the US financial sector has grown so large that it is slowing economic growth. New York University economist Thomas Philippon supported those findings, estimating that the US spends $300 billion too much on financial services per year, and that the sector needs to shrink by 20%. Harvard University and University of Chicago economists agreed, calculating in 2014 that workers in research and development add $5 to the GDP for each dollar they earn, but finance industry workers cause the GDP to shrink by $0.60 for every dollar they are paid.[SUP][287][/SUP] A study by the Bank for International Settlements reached similar conclusions, saying the finance industry impedes economic growth and research and development based industries.[SUP][288][/SUP]
I admit I was surprised to read that. Thoughts?
I'm in R&D, and I use Vanguard for investment (low cost picks), I think I am not exacerbating this issue..I hope!