Capitalism is in danger of eating itself, says Mark Carney. Rising inequality poses a threat to growth and financial stability, says Christine Lagarde. When the governor of the Bank of England and the head of the International Monetary Fund start banging on like a couple of social democrats at a Labour party fringe meeting, it is worth paying attention. Something is up.
That something is the way the world operates in the aftermath of its most profound economic shock of the postwar era. This has been a period of slow growth, rising inequality and as the results of the elections to the European parliament show political alienation. People struggling to cope with wages that don't keep pace with inflation feel that they are paying the price of a crisis they did not cause while the perpetrators of the crime get away scot free.
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