We tend to view the particular financial norms of our time fatalistically, as an inevitable reality of our circumstances. But the ways in which economic activity creates wealth change over time – economist and sustainable finance specialist Thomas Lagoarde-Ségot argues that the concept of the accumulation regime teaches us that the debt-loaded, extractive system that currently shapes our lives won’t last forever, and other options are available.
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Antonio Mays 26 January 2024
Financial repression comprises "policies that result in savers earning returns below the rate of inflation" to allow banks to "provide cheap loans to companies and governments, reducing the burden of repayments." It can be particularly effective at liquidating government debt denominated in domestic currency.
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