Political power

The lobbying power of the City of London and its informal linkages to elements of the British state is well documented. Public debates around finance suggest that more finance is always  better and that a larger financial sector improves the national interest.

Does a country’s political culture and processes support vigilant scrutiny and oversight of financial sector activities, or is there a political silence on the potential downsides of a large financial sector, and a country’s development designed around the needs of the financial sector? How does the existence of a large financial sector shape the mentality of politicians and public officials?