MAJOR in finance ?

Nicole12
Mon, 10 Nov 2008 16:54:18 +0000

"In 2-4 years, financial services and finance departments will no longer be needed. People will no longer invest and save for retirement. Companies will no longer need to keep track of their books and make capital budgeting decisions. Banks will close down because nobody will need loans.

Do NOT pursue finance as a major! You will regret it for the rest of your life!"

Please take a macroeconomics course before you post statements about the economy.


Why wouldn’t people invest? Sure you could argue that the risk-premium has skyrocketed, but it doesn’t mean that given the opportunity people will rather let their money wither away through inflation than to invest it at a reasonable rate of return.
There’s no way the world will resort to a bartering economy. The world won’t resort to money based on gold because it’s madness to pursue a contractionary monetary policy right now. So it will continue to use fiat-money. As long as money itself only worth what it can purchase, the central bank will exist to print money. People will put money into banks because of the interest rate. Banks in order to profit, will continue to invest. Smart people will invest too.


The only way finance will no longer be a viable major is when the world resorts to worldwide communism, worldwide utopia, or we all die.

Although, the only thing steve said right was that the market for finance jobs four years from now is unknown. But, whatever the market situation a market economy will always NEED speculative behaviour.