Workshop VI – Frankfurt

Inequality

November 2020

In a sense, inequality is the bottom line for the entire project. But inequality is not just a consequence of the developments mentioned under themes 1 to 5, but also a causal force for (further) financialization. Greater concentration of wealth means more demand for financial assets on one end of the spectrum, and greater demand for credit on the other. Does the degree of inequality alter the cost-benefit analysis for a financial system based on private credit money? Might a more prominent role for the state as in public banking be the next step to counter these developments?