Wednesday, December 17, 2014

Impact of Finance

I have been following this great multi-part project at The Washington Post on the declining middle class.  The latest piece struck a chord with me.  I lean left - I generally believe people are good, and that many need assistance when times are tough.  Assistance is not only necessary, it is a core component of what makes us human.  Fraud happens, but that should not distract us from helping our fellow neighbor.

I am now in the finance world.  I get more and more exposure each day of the machine that Mr. Tankersley describes in the article above.  So, knowing this, I have a quibble with this article.  It is extremely narrow-minded.  To measure the impact of finance solely by it's contribution to the economy is myopic.  Such an analysis negates all the externalities that occur given the growing investments in finance.

As I marinade on the system that is finance, we are benefiting elsewhere by the development that has occurred over the last few decades.  In particular, I argue that the growth of the internet as a foundational contributor to our economy is directly tied to the learnings, development, and talent cultivated throughout the recent finance evolution as Mr. Tankersley describes.

The metaphor used in the article, that finance is like a plumbing system enabling capital to move from those that have to those that need, is directly akin to how many describe the internet.  The exorbitant growth of the finance system in recent decades has led to new technology discoveries and an emerging talent pool - assets that are rapidly transferring to other industries.

Take data intelligence, for example.  Over the last decade, we have seen hyper growth in the amount of structured data, given the growth of the web and other advancements.  Vast datasets are becoming accessible for analysis in numerous industries, from commerce to education to even government.  Many of the technologies to handle these vast datasets are rooted in finance, as are many of the early people, transferring their knowledge and experience.  And growing the economy...

9 comments:

Tim Otis said...

I just passed this into a colleague who was doing a little research on that. And he actually bought me lunch because I found it for him smile So let me rephrase that. Check It Out

Yousufzai said...

of course breast cancer is avoidable, all you need is early detection and proper medical care’ California refinance rates

jennifer said...

This is one of the most important blogs that I have seen, keep it up! sherry treppa

Thomas Joe said...

Is this a blog series? If not, it should be. I would love to read the next installment on this subject.
click here

sandeep saxena said...

I like this. because I noted many important points from this article. Please update more like this.
Manual Testing Training in Chennai
Manual Testing course in Chennai
Manual Testing Training in Velachery
Mobile Testing Training in Chennai
mobile testing course in chennai
Drupal Training in Chennai
Photoshop Classes in Chennai
Manual Testing Training in Chennai

sandeep saxena said...
This comment has been removed by the author.
DFC SEO said...

I am incapable of reading articles online very often, but I’m happy I did today. It is very well written, and your points are well-expressed. I request you warmly, please, don’t ever stop writing. financial news for today

Rumi said...

Going online for your application, ensures that you do not have to put yourself in this position. Online Loans usually have low limits on the amount of money you can borrow, which might prevent you from taking on more than you can handle financially.

long term poor credit loans

sultana said...

Great Blog!!! Was an interesting blog with a clear concept. And will surely help many to update them.
Salesforce Training in Chennai
Salesforce Training
ccna Training in Chennai
PHP Training in Chennai
ReactJS Training in Chennai
ui ux design course in chennai
Angularjs Training in Chennai
web designing training in chennai
Tally Course in Chennai