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I read Nick Shaxson's book years ago and it was excellent. Finance is an important part of society helping businesses to grow while earning interest on people's investments, but when it gets too large it can become parasitic harming growth.Also, the best brains are attracted to finance and so other vital sectors of the economy may suffer. The best engineers, scientists, and mathematicians will often go into finance when they could be designing state-of-the-art products to improve the standard of living in society and our world, which I'm sure most of these scientists and engineers would find more interesting and fulfilling. [embedded content] Finance good, big finance better and biggest finance best. This subtle mantra has bounced around developed economies for decades and has almost
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I read Nick Shaxson's book years ago and it was excellent. Finance is an important part of society helping businesses to grow while earning interest on people's investments, but when it gets too large it can become parasitic harming growth.I read Nick Shaxson's book years ago and it was excellent. Finance is an important part of society helping businesses to grow while earning interest on people's investments, but when it gets too large it can become parasitic harming growth.Also, the best brains are attracted to finance and so other vital sectors of the economy may suffer. The best engineers, scientists, and mathematicians will often go into finance when they could be designing state-of-the-art products to improve the standard of living in society and our world, which I'm sure most of these scientists and engineers would find more interesting and fulfilling. [embedded content] Finance good, big finance better and biggest finance best. This subtle mantra has bounced around developed economies for decades and has almost
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Also, the best brains are attracted to finance and so other vital sectors of the economy may suffer. The best engineers, scientists, and mathematicians will often go into finance when they could be designing state-of-the-art products to improve the standard of living in society and our world, which I'm sure most of these scientists and engineers would find more interesting and fulfilling.
Finance good, big finance better and biggest finance best. This subtle mantra has bounced around developed economies for decades and has almost entirely captured politicians, the media and the public. Countries have fallen over themselves to attract financial corporates to their shores to ‘create wealth’. But recent studies have shown that financialisation actually extracts wealth, hollows out an economy and drives inequality. Host Ross Ashcroft is joined by the author Nick Shaxson to ask if it is finally dawning on us that what has been sold to us as a blessing is actually a curse?