I [suspect] we are throwing more and more of our
resources, including the cream of our youth, into
financial activities remote from the production of
goods and services, into activities that generate
high private rewards disproportionate to their
social productivity. I suspect that the immense
power of the computer is being harnessed to this
"paper economy", not to do the same transactions more
economically but to balloon the quantity and variety
of financial exchanges....I fear that, as Keynes saw
even in his day, the advantages of the liquidity and
negotiability of financial instruments come at the
cost of facilitating nth-degree speculation which is
short-sighted and inefficient.

        -- James Tobin, 1984