Description

Gerry Holtham, Managing Partner, Cadwyn Capital LLP, writes for ippr's Tomorrow's Capitalism programme on his views of the financial crisis. Introducing the paper he writes:

All analyses of the current crisis have been incomplete. They deal with symptoms, not causes. There has been a focus on financial sector institutions and regulation, on the operation of monetary policy and on alleged policy errors. These things were important in shaping the way that the crisis evolved but they are not at its root. The truth is that the world and its economy have changed in ways that are likely to lead to periodic instability.