By Simon Johnson
Bankers and hedge fund managers are fond of saying, “if you place restrictions on our activities in New York, we’ll just move elsewhere – like London.” This makes attitudes towards the financial sector in other countries – particularly the UK – highly relevant for American public policy debate on this issue.
Is it the case that the new found skepticism about modern finance and its effects on the real economy is confined to the United States? Or is there a broader shift in thinking around the world, including in other leading financial centers?
A new book out this week from the London School of Economics, “The Future of Finance and The Theory That Underpins It”, suggests that a profound shift in the consensus is well underway. Continue reading “The Future of Finance: International Edition”