![]() ![]() Unlike many of those who produce Marxist critiques of financial capitalism, Norfield writes from a position of experience: he has worked in the belly of the beast, and the book is the better for it … In The City, he has done the research and pulled together the financial statistics that explain how the bloodsucking works.” “It is not every day you read a book about global finance by a banker who quotes Lenin approvingly on page two. Robert Brenner, author of The Economics of Global Turbulence “ The City is a tour de force, which will soon be recognized as a formidable challenge to conventional wisdom and an essential contribution in its own right.” If you imagine you don’t like “finance” but have no problem with the capitalist market system, think again: it turns out the two cannot be separated. Why do just fifty companies now have control of a large share of world economic production? The City explains how this situation came about, examining the history of the world economy from the postwar period to the present day. Tony Norfield details, with shocking and insightful research, the role of the US dollar in global trading, the network of Britishlinked tax havens, the flows of finance around the world and the system of power built upon financial securities. ![]() All big international companies-not just the banks-utilise this system, and The City shows how the operations of the City of London are critical both for British capitalism and for world finance. It is also, as this groundbreaking book reveals, a crucial part of the mechanism of power in the world economy.īased on the author’s twenty years’ experience of City dealing rooms, The City is an in-depth look at world markets and revenues that exposes how this mechanism works. ![]() The City, as London’s financial centre is known, is the world’s biggest international banking and foreign exchange market, shaping the development of global capital. Radical insider’s account of how the city of London really works ![]()
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