Amerikas Finanzleviathan

BERKELEY: In den 1950er Jahren entfielen auf den Finanz- und Versicherungssektor nach Schätzungen des US-Wirtschaftsministeriums 2,8% vom BIP. Bis 1960 war der Anteil des Sektors auf 3,8% vom BIP gestiegen, und 1990 erreichte er 6%. Heute liegt er bei 8,4% vom BIP und wird nicht kleiner. Laut Justin Lahart vom Wall Street Journal lag der Anteil des Sektors 2010 noch über dem des bisherigen Spitzenjahrs 2006.

Der wachsende Anteil des Finanz- und Versicherungssektors an der Volkswirtschaft sei, so Lahart weiter, „im Großen und Ganzen nichts Schlechtes ... [denn er] bringt Kapital dort zum Einsatz, wo es am sinnvollsten genutzt werden kann, damit die Wirtschaft wächst ...“

Doch wenn die USA eine gute Gegenleistung für die zusätzlichen 5,6% vom BIP erhielten, die sie heute für Finanzdienstleistungen und Versicherungen ausgeben – die 750 Milliarden extra, die den Zahlungen an die Hersteller unmittelbar nützlicher Waren und die Erbringer unmittelbar nützlicher Dienstleistungen jährlich entzogen werden – müsste dies in der Statistik unmittelbar zu erkennen sein. Bei einer typischen jährlichen Realverzinsung von 5% auf riskante Kapitalflüsse wäre die Umleitung eines derart großen Ressourcenanteils weg von unmittelbar nutzbaren Waren und Dienstleistungen in diesem Jahr nur dann ein gutes Geschäft, wenn sie das jährliche Wirtschaftswachstum um 0,3% – oder 6% pro 25-Jahres-Generation – steigern würde.

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