Show Notes
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#offshoreshadowbanking #financialspeculationinessentials #publicrescueofprivaterisk #democraticcontrolofmoney #GreenNewDealfinance #TheGlobalCasino
The Global Casino: How Wall Street Gambles with People and the Planet by Ann Pettifor is a work of political economy aimed at explaining how global finance operates beyond normal democratic control. Pettifor, a British economist associated with Keynesian monetary analysis, Jubilee 2000, and Green New Deal advocacy, focuses on the offshore shadow banking system and the institutions that channel global savings through it. The book presents financial markets not as neutral allocators of capital, but as powerful systems of speculation that shape the cost of living, public budgets, ecological policy, and social stability. Its purpose is both diagnostic and political: to show how asset managers, private equity firms, pension funds, sovereign wealth funds, banks, and central banks interact within a system that repeatedly transfers risk to the public. Pettifor argues that governments have regulated finance before and can do so again, especially if societies are to confront climate breakdown and economic insecurity.