Here’s his full Quote:As a person who trades and used to trade for a living I thought about that a lot.
If you believe Capitalism is the best we know how to lift the most people up the economic ladder.
If you believe the best allocator of resources is the market because price does a better job than govt planners.
Then you should consider the fact that adding liquidity to markets has value for a society.
Now personally I don't believe a day trader is any less valuable than an investor buying stocks for the longer term. The money has already been raised by the market for the business owner. The fact there is a market for the company or other stock owner to raise money is the valuable part after that. All participants may be equally valuable. (not sure about that last sentence.)
Just because cities like Chicago are financial centers does not mean their their GDP "contributions" are meaningful. They don't actually produce anything worthwhile except for wealth for financial firm leaders and their cronies.
The bottom line is that good portions of these Democratically-run cities are violent crime cesspools. The white-collar financials guys in these cities are just another type of non-violent thief.