10-23-2012, 08:17 AM
Well, I have no objections to moving money around, but much of it is redistributive, rather than increasing the efficiency of the allocation of capital. Which is something that should be kept in mind, I think, as it doesn't add to economic growth nor efficiency, although it isn't quite as destructive as rent seeking (unless it leads to a more unstable financial system, or, as you mention, sucking valuable talent away where they would be able to add to efficiency and economic growth).