Wall Street Loses Its Appeal
Posted on January 29th, 2010 in Uncategorized | 2 Comments »
The Globe and Mail reports that, at least for now, the day of college grads flocking to Wall Street like money-hungry, brain-dead lemmings is over.
Every time an ambitious young thing decides to harness his or her brain cells to design Wall Street’s next black-box trading model, there is one less person searching for solutions to global warming or starting a company focused on health care innovation. Most of the great leaps forward in finance only benefit small groups of people who are already rich, rather than creating jobs and wealth for the many. And that’s when things go well.
Agree with this thesis or not, the sentiment is clearly becoming conventional wisdom. Wall Street has an image problem. Does it matter?
2 Responses
1/29/2010 11:17 am
And this makes RB feel……?
1/31/2010 3:18 pm
Yet still, it seems-according to Louis Menand-that there’s a crisis of legitimation in the humanities, which is one field you’d expect to start growing again if students are no longer so gung-ho about Wall Street.