We all know an out-of-control financial sector can cause acute and long-lasting problems, thanks to the recent financial crisis. But is there also a more chronic drag on the economy when the finance crowd gets too thick?
One recent paper (PDF) suggests so, and tries to quantify just how much a bloated financial sector can hurt economic growth.
Originally published on Mon July 16, 2012 12:50 pm
Republican and Democratic strategists tell NPR that most of the estimated $4 billion to be spent by the campaigns, political action committees and others on the 2012 presidential race will make no difference in the outcome.
Dec. 29, 2011: new North Korean leader Kim Jong Un, right, and Vice Marshal Ri Yong Ho at a national memorial service for Kim's father, Kim Jong Il. Reports from North Korea say the military leader has been removed from his post.