But, while electronic transactions have made a great deal of financial life much easier, this should have been accompanied by a decrease, not an increase, in the finance share of GDP, just as automated switching in telecommunications led to a decrease in the number of telephone switchboard operators per phone call. Indeed, the operations of those parts of the financial system most closely related to technological improvements have slimmed down markedly: consider what has happened to the checking operations of the regional Federal Reserve Banks.
其四，我们看到，交易的便利性有了极大的改善。但是，尽管电子交易让金融生活有了极大的便利，但这应该伴随着GDP的金融比重的下降而不是上升，正如通信设备的自动开关应该使手机上的电话按键操作减少一样。事实上，与技术进步关系最密切的那部分金融系统的操作有了显著的简化，地区联邦储备银行的核对操作就是明证。