Financial engineering has been disparaged as nothing more than paper shuffling. Critics argue that resources used for rearranging wealth (i.e., bundling and unbundling financial assets) might be...

Financial engineering has been disparaged as nothing more than paper shuffling. Critics argue

that resources used for rearranging wealth (i.e., bundling and unbundling financial assets) might be better spent on creating wealth (i.e., creating real assets). Evaluate this criticism.

Are any benefits realized by creating an array of derivative securities from various primary securities?