The fourth in SPI’s series on Inequality
By: Remy Smith
For most families in the US, incomes are stagnating as real wages remain steady or are actually declining. Stagnating incomes mean that the “middle class is too weak to support the consumer spending that has historically driven our economic growth” (Stiglitz). Middle class households, “who are most likely to spend their incomes,” (Stiglitz) actually have lower incomes than they did in 1996, when adjusted for inflation. A strong middle class drives economic growth; however, today the middle class is pressed for money. This...
An interview with Oxford Professors David Vines and Nicholas Morris on Capital Failure: Rebuilding Trust in Financial Services. The authors speak with Seven Pillars Institute about their views on ethics, trust, regulation and the way forward in financial services.
Your new book Capital Failure: Rebuilding Trust in Financial Services argues the culture of trust in the financial services industry was eroded over the past few decades. Can you give the main reasons for this erosion?
Chapter 2 of our book provides...