Francisco Azuero's List: Clásicos economía

When the capital development of a country becomes a by-product of the activities  of a casino, the job is likely to be ill-done. The measure of success attained  by Wall Street, regarded as an institution of which the proper social purpose is  to direct new investment into the most profitable channels in terms of future  yield, cannot be claimed as one of the outstanding triumphs of laissez-faire  capitalism — which is not surprising, if I am right in thinking that the  best brains of Wall Street have been in fact directed towards a different  object.

These tendencies are a scarcely avoidable outcome of our having successfully  organised “liquid” investment markets. It is usually agreed that casinos should,  in the public interest, be inaccessible and expensive. And perhaps the same is  true of Stock Exchanges. That the sins of the London Stock Exchange are less  than those of Wall Street may be due, not so much to differences in national  character, as to the fact that to the average Englishman Throgmorton Street is,  compared with Wall Street to the average American, inaccessible and very  expensive