Fixing Financial System

In her article "The unknighting of Fred Goodwin can only be redeemed by genuine reform" published in The Independent (5 February 2012), Margareta Pagano refers to the findings of the FINNOV project. She writes:

"…After a three-year study into the causes of and lessons of the financial crash, Mazzucato and her team published the final Finnov report last week. In it, she puts reforming the performance indicators used by financial markets right at the top of her list for reform. She claims that changing the links between risks and rewards led to the extraordinary financialisation of the economy, meaning that the financial-services sector took out value at the expense of industrial growth. It's this practice that has undermined investment in productive activity, and destabilised the economy."

Read the full article

Read the FINNOV Final Policy brief