This is somewhat understandable given the massive shift of wealth to the rich represented by the bank bailouts and ‘quantitative easing’, and in the academic world it has sometimes provided a fresh angle on increasingly turgid debates over the nature of neoliberalism. It has become fashionable amongst much of the left to take aim at both ‘finance’ and ‘financialisation’, particularly in the wake of the global crisis. For this you need Tony Norfield, whose book The City, based on his PhD research at SOAS, has just come out in hardback. Better still, ask an ex-banker who not only spent decades working in the dealing rooms of London’s financial district, but who is also a Marxist economist. Tom Haines-Doran reviews ‘The City’ by Tony Norfield, recently published by Verso.ĭo you want to understand the City and how finance works in the British economy? Just ask an ex-banker. ![]() ![]() Want to reform finance but maintain capitalism? Then you may have a problem.
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