Creation of value in finance?

H/T Leiterreports: an interesting piece in The New York Times on what’s worrying about too many students going into finance, with links to papers about the social value of finance, or lack thereof.

http://www.nytimes.com/2015/04/12/upshot/why-a-harvard-professor-has-mixed-feelings-when-students-take-jobs-in-finance.html?action=click&contentCollection=Science&module=MostEmailed&version=Full&region=Marginalia&src=me&pgtype=article&abt=0002&abg=0