« An Update on the G20 and Financial Regulation | Main | Evaluation of the Financial-Sector Aspects of the IMF's Role in the Euro Area Crisis »

August 18, 2016


Sean Matthews

One does not have to be Jeremy Corbyn or anything like him (John Kay and Martin Wolf spring to mind as illustrative examples) to think (a) that the business of the city appears to be in large part rent-seeking of various kinds (quite a lot of that predatory), and therefore while it may represent a local optimum for London, from a global perspective it is to be deplored, and (b) that from a historical perspective the western world's economy is vastly overweight financial services, to an extent that it has not been since the 1920's, and that, therefore we can expect its profits and its share of the economy to revert slowly to the historical mean, whether it stays in London or not, unless it turns out that the activities it is engaged in, in spite of common perceptions, are not rent-seeking. But colour me sceptical on that.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.


Post a comment

Your Information

(Name and email address are required. Email address will not be displayed with the comment.)