Tuesday, 1 March 2016

Is the City worth it? Financial regulation by John Kay

Is the City worth it? | Prospect Magazine: "The resentment of earnings in finance is stoked by a well-founded combination of doubts about its utility, and a recognition that the global financial crisis revealed that many people in the finance sector were not, even within their own frame of reference, very good at their jobs.

 All inequality is to some degree socially corrosive, but inequality which seems unconnected to deserts is particularly corrosive. The most disturbing downside of the global success of the City of London is the corrupting effect on society at large of a depreciation of ordinary morality and human values. The ethical standards associated with parts of the finance sector have been deplorable." 'via Blog this'

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