The travails of Wall Street forces one to think about some fundamental facts. Is there any specific reason why bankers and other financial industry executives should be millionaires? The New York Times has an interesting analysis about the troubles of the financial industry here ... http://www.nytimes.com/2009/10/30/business/30norris.html How much pay do doctors and teachers and research scientists in the physical and biological sciences earn? Does a person need millions of dollars of pay per year to maintain a good standard of living? How does society benefit by having some people who are spectacularly rich while others live in poverty? Do these millionaires contribute anything of value to society that would justify their earning those pay packets? Of course, in a free market economy, these are difficult choices to make ... But society can come to a consensus as to what are the really important activities that a society must engage itself in and what are not so important. I do not be...
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