The Role of the Financial System in the Real Economy
John Kay: Fellow, St. Johns College, Oxford; Columnist, Financial Times; Author, Other People's Money: The Real Business of Finance
Chair: Stephen Pickford, Senior Research Fellow, International Economics, Chatham House
Over the last 20 years, the relationship that has developed between the global financial system and the real economy has changed profoundly. In his recent book, Other People's Money: The Real Business of Finance, economist, author and Financial Times columnist, John Kay, has argued that the financial system has evolved from a vital industry that provided businesses and households necessary funding, risk mitigation and capital allocation, to an industry engaging primarily in trading existing assets in secondary markets. Professor Kay will discuss the risks that these distortions pose to the real economy, and how the system might be reformed to better manage these risks.
Attendance at this event is by invitation only.
The Chatham House Rule
To enable as open a debate as possible, this event will be held under the Chatham House Rule.