Finally, the social returns from investment in finance as the industry of the future have largely disappeared over the past generation. A back-of-the-envelope calculation of mine in 2007 suggested that the world paid financial institutions roughly $800 billion every year for mergers and acquisitions that yielded about $170 billion of real economic value.
最后，金融投资作为未来产业的社会回报在过去25年中基本消失了。2007年，我经过简单的计算就能得出，世界每年要付给金融机构大约8000亿美元用于并购，而这些并购活动只能产生1700亿美元的实际经济价值。这一可怜的投入产出比并没有改善迹象。