The financial industry on Wall Street like to refer to themselves collectively as "The Productive Classes". So what do they produce? IMHO, they don't actually produce anything. The only thing you might say they produce is wealth for the already wealthy. What is their raw material? Money. What is their product? More money. So they don't actually produce anything.
An argument can be made that they produce their wealth by enabling other producers to produce actual products. Unfortunately, they don't seem to be doing much of that lately either. If they did then they would be doing something with the $1.4T in cash reserves that they're sitting on besides using it to pad their wallets.
Some would say that venture capitalists, AKA vulture capitalists, enable others to produce their products. While I partially agree, the venture capitalist isn't actually producing anything except money for himself. He is using money to make money.
This situation is repeated everywhere. The people who do nothing but shuffle money consider themselves "the productive classes", and look down on the people who are actually doing the production.
Teachers? Dead weight.
Machinists, welders, woodworkers, mechanics, doctors, lawyers, and other skilled professions? Merely a means to an end. The end is making money.
The "Productive Classes" in reality produce nothing but money, almost always for themselves. At best they enable the people who do the actual production to work. At worst they do nothing but suck wealth out of everyone else.
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