Busting the Bankers' Club: Finance for the Rest of Us
Channel: New Economic Thinking
Date: 2024-01-17

Gerald Epstein discusses his latest book, and takes us beyond the "Bankers' Club," exploring how public institutions can challenge the dominance of private banks.

About the Book
https://www.ucpress.edu/book/9780520385641/busting-the-bankers-club

An eye-opening account of the failures of our financial system, the sources of its staying power, and the path to meaningful economic reform.

Bankers brought the global economic system to its knees in 2007 and nearly did the same in 2020. Both times, the US government bailed out the banks and left them in control. How can we end this cycle of trillion-dollar bailouts and make finance work for the rest of us? Busting the Bankers' Club confronts the powerful people and institutions that benefit from our broken financial system—and the struggle to create an alternative.

Drawing from decades of research on the history, economics, and politics of banking, economist Gerald Epstein shows that any meaningful reform will require breaking up this club of politicians, economists, lawyers, and CEOs who sustain the status quo. Thankfully, there are thousands of activists, experts, and public officials who are working to do just that. Clear-eyed and hopeful, Busting the Bankers' Club centers the individuals and groups fighting for a financial system that will better serve the needs of the marginalized and support important transitions to a greener, fairer economy.