One of the lessons learned from the recent financial crisis is that such innovations tend to mask the build-up of excessive risk in the economy with dire consequences. V.  Concluding remarks  As I said at the beginning, innovation is the key to growth. Financial innovation can also promote growth, so long as it facilitates the activities of other economic agents.
The invisible hand may bring into line the interests of the financial industry and the broader society, but the recent financial turmoil has shown that too often, improperly aligned incentives in the financial industry can stand in the way.