Is Britain Putting Finance Back in Its Place as a Service Industry?

The English, interestingly, have been leading the way on this. Since the financial crash, the Bank of England has consistently been the main source of argument hostile to established financial interests, and made cogent cases for reducing by fiat both the size of banks and the pay of bankers. Most recently the newly elected archbishop of Canterbury, Justin Welby, penned an opinion piece for Bloomberg News, in which he pleaded that “financial services must serve society, and not rule it. They must be integrated into the economy, not semidetached.” And now we have a leading English novelist, and fair-minded soul, showing us the effects of the world we’ve created, or allowed to be created for us. Capital may open as a story about money, but it ends as a story of the limits of money—and with a bit of hope. In its closing line the former British investment banker has lost his job and is finally having a refreshing thought: “All he could find himself thinking was: I can change, I can change, I promise I can change change change.”  Article

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