Public ignorance of the reality of how the economy actually works is a lamentably common fault these days (I count myself among the guilty), and frequently results in crude, polarising debates that are easily dismissed by decision-makers for their inaccurate insignificance and predilection for ideological posturing.
While I do not like it, in fact it makes me very angry, I can almost see why the argument is lost on curbing bonuses and forcing through tighter regulation. These are complicated issues, they are not easy to represent in the public’s interest against an extremely powerful and extremely successful (also, obviously, extremely dangerous) industry that is so well represented in government.
This article was originally published by the Social Europe Journal.
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