cc The whole financial system has to be broken down and rebuilt so that finance serves the real economy – and if the private sector does not deliver this, then the government must intervene, Heinner Flassbeck, UNCTAD’s chief economist has said in a wide-ranging interview with Riaz K. Tayob. A recent report from UNCTAD calls for ‘much more regulation’ to avoid ‘excessive ...read more
cc The whole financial system has to be broken down and rebuilt so that finance serves the real economy – and if the private sector does not deliver this, then the government must intervene, Heinner Flassbeck, UNCTAD’s chief economist has said in a wide-ranging interview with Riaz K. Tayob. A recent report from UNCTAD calls for ‘much more regulation’ to avoid ‘excessive speculation’ which treats commodities as an asset class. Flassbeck slates the G20 for its ‘traditional’ approach, which he says does not go far enough to address the misallocation of resources caused by ‘overshooting’ currencies and commodity prices.
