Tuesday, 24.03.15

Financialisation and Inequality: A dangerous mix

The Friedrich-Ebert-Stiftung in cooperation with the New Economics Foundation (NEF) hosted a parliamentary launch of the report “Financialisation and economic inequality: a dangerous mix”.

The report presented by Helen Kersley (NEF/UKCES) and commented by James Meadway (NEF) and Engelbert Stockhammer (Kingston University) addresses the links between increasing inequality and the growth in scale and influence of the financial sector. Making the case that the UK’s growth model, fuelled by private debt, might well be sowing the seeds of its own demise; the research firmly posits widening inequality as not only a social or political problem – but an economic one.

The panel consisting of Lisa Nandy MP, Ann Pettifor (Prime Economics), Michael Kumhof (Bank of England) and Faiza Shaheen (Save the Children) discussed how to confront the challenges of growing economic inequality and system fragility. There was a strong commitment that a first and important step would be bringing this issue more into the public debate and consider possible political solutions.

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