Although I basically agree with the analyses, just I mentioned, I conjecture that a more fundamental reason lies in the fact that price measurement itself has become hard in recent years. Of course, in theory, the price index is supposed to trace quality-adjusted prices over time.
What really contributed to the disproportionate growth of the financial sector relative to the real sector that I spoke about earlier was investment banking and securities dealing. It is the huge leveraging by this segment that fuelled the crisis. Hence, as the noted economist and Nobel laureate Paul Krugman has argued, the way to reform banking is to once again make it boring.