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Who does the
City of London
really work for?
The City of London is a key part of the mechanism by which economic power gets transferred to major companies. The City handles
41% of all the world’s dealing in foreign exchange and nearly
half of all interest rate derivative deals between banks and their clients. But while banks are at the
centre of this network, they mainly act as the intermediaries for others.
Big corporations are the drivers of these deals. They aim to boost their market power, especially through mergers and takeovers, and are helped by their access to financial markets.
Samsung and Apple provide
40% of the world’s smartphones and
just five companies produce
half the world’s beer. The situation is not so different for many other products people buy.
The financial system facilitates this concentration of economic and social power, and it gives
special favours to those in the rich countries.
Join
Tony Norfield
in conversation with
William Davies,
senior lecturer at Goldsmiths and author of
The Limits of Neoliberalism and
The Happiness Industry, to discuss
The City and the Global Power of Finance.
The event is hosted by the
Political Economy Research Centre at Goldsmiths.
6pm on 26th May.
RHB137
Goldsmiths, University of London
New Cross
London SE14 6NW
The event is
free and
open to all.
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