The American Bear


But such arguments overlooked the possibility that modern finance had itself become a religion. Here, the purpose of commercial activity was to maximize shareholder value, and the unit of measure was almost exclusively a monetary one. Stress, pollution, divorce and crime, all these could be conveniently ignored when measuring Gross Domestic Product. In this manner, a monetarily rich but unhappy society was seen as better off than a monetarily poor but happy one. Was this not a massive value judgment for modern finance to make? Tarek El Diwany (via azspot)

(via azspot)