Financial Innovation Today, Toward Economic Resilience

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Author

Mark Davis and Tim Braunholtz-Speight

Area of interest

Resilient economies

Financial Innovation Today, Toward Economic Resilience

We are at the threshold of a cultural war over the meaning of money. The events of 2007/8 were quickly framed within an Overton Window as a global ‘financial’ crisis within the system, rather than as a political or social crisis of the system.

This set the scene for legitimising subsequent decisions to authorize a massive transfer of public money into the private banking system, in exchange for almost a decade of severe welfare cuts and state retrenchment of
public services across Europe and around the world.

UK ministerial and shadow ministerial proclamations of working together to build a more ‘responsible’ (Miliband, 2013) and ‘moral’ (Cameron, 2012) form of capitalism were hastily redefined to include pushing forward an agenda that
understood establishing economic sustainability in the narrow sense of still more public sector cuts and privatisation…