The shadow banking sector is now integral to the global financial system. Its architects are constantly seeking to evade oversight and control through the use of offshore accounting and forbidding complexity. The regulatory reforms that followed the 2007-8 crisis are bound to be tested.
The debate between these two economists on the role of banking and specifically the creation of credit is of fundamental importance in understanding the shortcomings of orthodox economic thinking - and why it was so ill-equipped to handle, let alone predict, the crash of 2008.
Normal 0 false false false MicrosoftInternetExplorer4 Money is currently produced by a ‘public-private partnership’ between the state and the financial sector, a partnership whose nature remains obscure to the great majority of the population. Is another distribution of knowledge – and hence of po
To mark the publication of Ann Pettifor's e-book, Just Money: How Society Can Break the Despotic Power of Finance, OurKingdom are running a series of articles that explore the nature of money and the politics of the financial system. Here Pettifor launches the series and introduces some of its key
It is now 5 years since the banking crash but its effects are still with us. What exactly happened, what has the world done about it, and is there anything to stop something similar happening again?
The power of the financial sector in Britain has worked a transformation on the country’s ‘common sense’. A successful challenge will require a radical change to the language we use to describe our shared life.
The exchange rate is the most important single price in the economy: it determines the price of goods for export and the real value of foreign-owned debt. The UK needs a more competitive external sector and can achieve it by much greater quantitative easing
Non-profits have suffered in the financial crisis no less than their counterparts in the private and public sectors. But could this be a 'Greenpeace moment': might philanthropic foundations support the creation of a civil society conscience for international finance?
As governments everywhere struggle with cutting deficits without hammering the recovery from the financial crisis, a new book argues that Keynes has had the solution for a long time.
