Today in my finance class we were talking about the New York Stock Exchange and how it's function is completely symbolic in nature. Only 10 years ago around 3,000 brokers and specialists populated the exchange floor, today that number is down around 1,000 brokers.

This is mostly due to the fact that technology allows trades that used to made physically (then by telegraph and later by phone) to now be done instantly via internet.

What is boils down to now is the New York Stock Exchange being the crumbling and chaotic symbol of American capitalism as our ecomony's health careens, jumping and diving uncontrollably from moment to moment. This spastic nature is reflected and projected further by enormous fluctuations in stock prices that we can no longer trust to relate to our financial future and safety. A pattern can no longer be derived in this tormoil and we are left without a link to predict what could possibly be coming next.

American's budget $50 million a year in security alone for the New York Stock Exchage to remain as a nostalgic image flowing live on the morning news and as a symbol of the hegemonic prosperity of American capitalism that we wish to portray to the world. Nearly $1 million a week of government money for a space on Wallstreet that may be more functional and profitable as the newest sight for the next Subway or KFC.

Nothing that is done at the exchange can not be done via internet, from absolutely anywhere. So why do we keep the physical location of the exchange and continue a practice which has been outdated and has thus been proven useless? Nearly every other country has shut down their exchange floors in the realization that they were costly, no longer necissary, and the ideal sight for a terrorist attack.

Why does ours remain? Is the image so powerful that we truely need it? Is this symbol of capatilsm so innate to the American way that we can not do without?