This doesn't directly address your question, but the "financialization" [0] of the economy has gotten us to the point where 9% of GDP (as of 2012) is consumed by the finance sector [1].
It's certainly conceivable that the risk management Wall Street provides has led to economic growth, but considering the systemic instability that led to the 2008 crash, I take that claim with a grain of salt.
It's certainly conceivable that the risk management Wall Street provides has led to economic growth, but considering the systemic instability that led to the 2008 crash, I take that claim with a grain of salt.
[0]: http://en.wikipedia.org/wiki/Financialization [1]: http://tcf.org/blog/detail/graph-how-the-financial-sector-co...