The Wall Street Is An Useful Tool For The American Economy

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Pros of Wall Street
Wall Street is an extremely useful tool for the American economy. It helps those who are in the lower part of the social ladder by giving them a chance to climb the ladder of economic opportunity. Wall Street also helps boost other industries within America, thereby making it vital for the American economy. As Wall Street is one of the most important financial institutions in the world and provides more positive aspects for the economy than negative ones. Wall Street is extremely important for the American economy. Jeff Madrick, the editor of Challenge: The Magazine of Economic Affairs, in his piece “Does America need Wall Street”, cites historian Alfred Chandler, who argued that the majority of the money put into America during industrialization came from corporate profits (Madrick).Those profits were able to make technological advances for all Americans. Daniel Indiviglio, former associate editor of the Atlantic, states that Wall Street is also important to the economy because it helps banks create capital (Indiviglio). That bank capital helps create jobs in the economy by causing more money to be available to be put into the economy. Wall Street plays an important part in the economy, and without it, America would face financial hardships. Wall Street also helps the American economy by providing the opportunity to be able to move up the financial ladder. Adam Davidson, a journalist who focuses on business and economic issues for National Public

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