A Financial Renaissance?

Nick Silver
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Nick Silver: University London

Chapter 10 in Finance, Society and Sustainability, 2017, pp 247-278 from Palgrave Macmillan

Abstract: Abstract I have spent the last few years trying to move the financial system to get capital invested at scale into the low carbon economy so that we can avoid dangerous climate change. I thought this was a good use of my time because the financial system is the control centre for allocating capital in the economy, and if you want to try and transform the economy to avoid environmental catastrophe, the financial system will have to allocate capital in a different way. Whilst working on this problem, I came to the realisation that this was not what the financial system is for, the finance system does not do investment, its purpose is to feed the helminths.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-56061-2_10

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DOI: 10.1057/978-1-137-56061-2_10

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