Without the 1% life would be a lot worse for the 99%.
No society has been able to get rid of the wealth generators or cut their wealth and maintained or improved the wealth of the rest. Every time it meant bringing down the 1% to a lower level, which usually resulted in the 99% dropping in their wealth.
The problem is far deeper and harder to solve.
That is
The West produces too little and imports too much. Look at the fastest growing economies.
http://en.wikipedia.org/wiki/List_of...tes t_year%29
Yes some are low down, but lets look at some selectively.
4 India 11.107
5 Republic of China (Taiwan) 10.823
6 People's Republic of China 10.300
22 Thailand 7.803
31 Brazil 7.490
38 Hong Kong 6.812
48 South Korea 6.110
58 Sweden 5.536
73 Israel 4.606
91 Slovak Republic 4.021
92 Russia 4
93 Japan 3.938
95 Poland 3.817
100 Germany 3.504
116 United States 2.834
117 South Africa 2.784
the world isn't worth more today than it was 10, 20 or 30 years age.
The Western countries share of that wealth has gone elsewhere. the solution is how to bring it back?
The financial sector was one of the few ways we had.