Monthly Archives: June 2019

Nineteen reasons to shrink the financial sector

(Cross-posted from the Tax Justice Network.)

The Finance Curse is a concept first developed by the Tax Justice Network. It is a relatively simple idea — and also an original and powerful multi-level critique of the modern global economy.

Here we frame it in a number of simple ways.

1. Shrink Finance

We all need good finance. A financial sector has a useful core surrounded by a toxic, predatory part. This should be entirely uncontroversial, especially following the global financial crisis.

It seems sensible, then, to shrink finance down to its useful core. A fast-growing strand of academic research, known as Too Much Finance, backs this up.

Here’s a startling picture from the real world, illustrating the excess bloat (source.)

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