The Great Game: How Capital Markets Drove America's Transformation and Prosperity

#偉大的貪婪 — The Great Game #StrengthenCapitalMarkets #SupportInnovation #InvestInTaiwan Wall Street supported and drove America's transformation and prosperity. A well-developed, efficient capital market can become a force for many kinds of change. Capital can be extraordinarily efficient at creating value for the long-term future. #TaiwanMustNotCasuallyWeakenOrMarginalizeItsCapitalMarkets #InvestorsGreedAlsoHelpsCreateANewEra #AmericaHasTheMostOpenCapitalMarkets #AndTheStrongestEnvironmentForInnovationAndEntrepreneurship —————————— Wall Street has supported the entire history and growth of the US federal government. It financed the US government during the Civil War, supported the opening of the American West, helped build a railroad network spanning the country, and brought about the first major expansion of heavy industry in US history. During the two world wars that followed, Wall Street even became a global financial center, raising funds for both wars on a massive scale. This street, less than 1,000 meters long, also helped the United States incubate and transform at least two new economies after World War II, including automobiles and the internet. Wall Street helped America become the leading country in the global cycle of new economies. It could almost be called the most important force behind every new economy and new technology in US history. Adam Smith, the father of economics, described an “invisible hand” at work in the market. Wall Street securities dealers merely sought a stable, honest stock market that served their own interests. Yet in doing so, they also provided a reliable mechanism through which the industrialization of the American economy had ample funds to keep moving. The United States soon became the world's largest and strongest economy. This made Wall Street more prosperous, but the greater gain was the prosperity of America as a whole: Wall Street made the American Century possible.