Monday, December 05, 2016

Rejecting the market

Bank of England Governor Mark Carney warned that people will turn their backs on free and open markets unless something is done to help those left behind by the financial crisis. 

In a speech, he said: "Globalisation is associated with low wages, insecure employment, stateless corporations and striking inequalities."

In many advanced economies there are "staggering wealth inequalities," he added.

"Just 2% of households have deposit holdings in excess of £5,000, [they have] few other financial assets, and don't own a home.”

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