Overall, how do you think the finance industry benefits or hurts society?

Expert Solution

Well finance industry has its own pros and cons i would say more pros than cons

Finance industry is shaping our world every day it has made our life very simple in many ways ever since the evolution of the finance industry it has helped us in many ways right from securing money to making us rich by different financial services it has benefited us and will benefit in the future too

It has helped us to increase our wealth from time to time which helped us to beat the inflation and make more money with many financial services our future is promising right from banking system to today’s modern world digital banking and financial services contributed in our life.

As we discussed it has its cons many times finance industry has brought recession into the world right 1929 great depression to 2008 financial crisis not having right regulations in place hurt the finance industry and time to time few powerful men in finance industry used their power to control it for a group of people or for their own purpose with the fraudulent intension in that process may people have suffered and lost their money and everything that has created negative impression about the financial industry in the society need of the our is to have good regulatory system to protect the interest of common shareholder is important now.

jeff jeffy answered 2 years ago

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