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Reforming finance for a new era economy
IPPR Reforming finance for a new era economy The following speech was delivered by Carlota Perez, visiting scholar at the University of Cambridge and a member of IPPR’s New Era Economics panel, at a seminar event ‘Reforming finance for a new era economy’, hosted by IPPR on 27 October 2011.
Ms Perez was joined at the top table by David Miles, member of the Monetary Policy Committee of the Bank of England, and the seminar was chaired by IPPR director Nick Pearce.The discussion was conducted under the Chatham House rule – this text is reproduced with the speaker’s permission.
The most important thing to do when looking for a solution to a problem is to know the fundamental nature of the problem. In my view, the current focus of financial reform is off-target. For that reason, I decided that the most useful ideas to share with you, rather than specific policy proposals (where I am not an expert), are those that could serve as criteria for working with the experts towards reforming finance for what indeed will have to be a ‘new era economy’.