In February 2018, Jeremy Corbyn accused bankers of taking the economy hostage, and said in a speech that Britain's financial sector will be "the servant of industry not the masters of all" if the Labour Party wins the next election. How realistic is that promise? In this lecture Ann Pettifor will argue that given the dependency of the finance sector on the largesse of the state and its taxpayers, a Labour government could transform the relationship between finance and industry.
Ann Pettifor (@AnnPettifor) is the author of The Production of Money, director of PRIME economics, and a member of Labour’s Economic Advisory Committee. She was one of a few to predict the Great Financial Crisis in her 2006 book The Coming First World Debt Crisis.
Natacha Postel-Vinay is Assistant Professor, Economic History Department, LSE.
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