Finance and the IFSC

We’re Not Leaving Mayday FestTwisted Pepper, Dublin3 May 2014

Dr. Conor McCabeUCD School of Social Justice

DREAM…

INNOVATION

[Lehman collapse, 15 September 2008 - headlines 16 Sep 2008]

Over the last quarter of a century something fundamental seems to have changed in the way in which capitalism works.

The tendency since 1970 has been towards greater geographical mobility of capital.

Rather than being a modest helper to the capital accumulation process, [finance] gradually turned into a driving force.

Speculative finance became a kind of secondary engine for growth given the weakness in the primary engine, productive investment.

“Part of the reason people get less giddy about the Dow than they did five years ago is that they have learnt a bit about inequality.

what looks like a recovery, a rally or an increase in consumer confidence may just be the effect of elites passing money among themselves.“

Christopher Caldwell, FT 9 March 2013

One company – 200 employees

One employee– 200 companies