{"id":1763,"date":"2008-12-22T09:50:42","date_gmt":"2008-12-22T14:50:42","guid":{"rendered":"http:\/\/2parse.com\/?p=1763"},"modified":"2008-12-21T21:59:22","modified_gmt":"2008-12-22T02:59:22","slug":"the-proper-proportion-of-the-finance-sector-to-the-real-economy","status":"publish","type":"post","link":"https:\/\/2parse.com\/?p=1763","title":{"rendered":"The Proper Proportion of the Finance Sector to the Real Economy"},"content":{"rendered":"<p><a href=\"http:\/\/www.nytimes.com\/2008\/12\/19\/opinion\/19krugman.html\">Paul Krugman<\/a>:<\/p>\n<blockquote><p>In recent years the finance sector accounted for 8 percent of America\u2019s G.D.P., up from less than 5 percent a generation earlier.<\/p><\/blockquote>\n<p>This data point taken in isolation seems to suggest an idea I&#8217;ve been toying with for a few months now &#8211; perhaps there is a correct proportion of the financial sector to the real economy. This might not be original &#8211; and it seems related to the initial explanation of the Great Depression as a misdistribution of purchasing power due to income inequality. But I think the distinction is important &#8211; as my knowledge of history suggests that increasing inequality and a booming financial sector often precede serious economic crises.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Paul Krugman: In recent years the finance sector accounted for 8 percent of America\u2019s G.D.P., up from less than 5 percent a generation earlier. This data point taken in isolation seems to suggest an idea I&#8217;ve been toying with for a few months now &#8211; perhaps there is a correct proportion of the financial sector [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[544,1032],"tags":[227,148],"class_list":["post-1763","post","type-post","status-publish","format-standard","hentry","category-economics","category-financial-crisis-economics","tag-paul-krugman","tag-the-new-york-times"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p8qcx-sr","jetpack_likes_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/2parse.com\/index.php?rest_route=\/wp\/v2\/posts\/1763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/2parse.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/2parse.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/2parse.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/2parse.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1763"}],"version-history":[{"count":1,"href":"https:\/\/2parse.com\/index.php?rest_route=\/wp\/v2\/posts\/1763\/revisions"}],"predecessor-version":[{"id":1764,"href":"https:\/\/2parse.com\/index.php?rest_route=\/wp\/v2\/posts\/1763\/revisions\/1764"}],"wp:attachment":[{"href":"https:\/\/2parse.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/2parse.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/2parse.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}