The big issue I'm having right now with our economic system is that we've tied up too much money, and given too much reward to a sector that really doesn't produce much.
Financial services are critically important, but their purposes to to direct captial to projects that will invest it. i.e. Direct money to help fund a startup business so they can produce or sell somethings.
It seems in the last few years, espically with the deregulation of the late 90s and early 2000s, they lost sight of that goal. The financial services industry became about who can game the system best to show that money was being made. And the employees of the industry were paid disproportionate to their economic worth.
Now, thanks to those skewed priorities, good sectors of the economy that need capital can't get it.
I'm hoping that one lesson of this economic crisis is that just because a area is very economically profitable, it does not make it worthwhile or right. America worships too much at the altar of capitalism for capitalism's sake, without realizing an economic system is only as worthwhile as the way it benefits society as a whole.
I think capitalism is the best system for that, but we need to approach it with a more social viewpoint.
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