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High finance is wrecking the economy and the planet—but it won’t reform itself

The establishment is waking up to the dangers of "rentier capitalism" but more than cosmetic change is required

By Ann Pettifor   November 2019

Any "reset" of capitalism won't come from here. Photo: Shutterstock

I have been making speeches about rentier capitalism for years. Each time I use the word “rentier” in public, I encounter puzzled looks. Like the term “usury,” it has conveniently dropped out of use. Rather suddenly, however, it may be making a comeback.

In a special edition of the Financial Times, with a dramatic cover wrap which was virtually blank but for the giant words “Capitalism: Time for a Reset,” its economics doyen Martin Wolf went out of his…

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