Wednesday, December 17, 2014

When young adults choose careers on Wall Street, are the rest of us worse off?

The Washington Post is continuing a series on income inequality, by Jim Tankersley, “A black hole for our best and brightest: Wall Street is expanding, and the economy is worse off for it”, link here.    I’ve always thought that young adults with the “right backgrounds” and good job skills were very well off in today’s world, and would also benefit from the experience of public service for a while.  The article explains how, in many years, many of the most “talented” went to work on Wall Street; less so since 2008, but the trend is returning.  The end result is to depress opportunities (and income) for everyone else.

Yet, Wall Street effectively funds an important concert for a friend of mind, high over Central Park, in 2010. 

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