Privatised gains and socialised losses – Prof Richard Werner: VIDEO

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Professor Richard Werner, Director of the Centre for Banking, Finance and Sustainable Development at Southampton University, gave a presentation at the Transforming Finance 2013 conference in London on ‘Privatised gains and socialised losses’

The slides for Richard Werner’s presentation are available to download here.

We are entirely dependent on banks’ actions because they create and distribute 97% of the money supply. Who gets money and for what purpose matters, because this shapes our economy, yet no-one ever requires banks to do something useful with the money they create.

 

Werner’s 2005 book New Paradigm in Macroeconomics correctly predicted the collapse of the UK banking system and property market.