Why we’re here: an argument for capital markets

Many people work in capital markets for the profit motive, and that’s a legitimate cause. But in doing so, they are also serving a social objective that includes capital formation for the benefit of the economy and the fair pricing of securities. Both of these activities lead back to benefitting the lives of real people. As government regulators and the general public may look askance at free markets, it should be noted that there is a reason for this form of organization. It may not always work well, and there are certainly improvements to be made, but this should not detract from the importance of the capital market model.
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