Finance and Society: Restoring the Balance
The enormous dependence on the financial sector have made the economy and society extremely vulnerable. Socio-economic policy has actually contributed to the dominance of the financial sector. In its report Finance and Society: Restoring the Balance (Report no. 96, 2016), the WRR therefore calls for changes in socio-economic policy in order to strengthen the resilience of society and the economy.
Too great an emphasis on the financial sector
Since the crisis the efforts of policymakers and politicians have focused mainly on adjustments in the financial sector. Too little attention has been devoted to measures that could make society and the economy more resilient to imbalances in that sphere, even though this is a facet that can be heavily influenced by national policies.
Three strategies for a more productive balance
The WRR proposes three paths for creating a more productive balance between society and the financial sector: via society, the financial sector itself and politics. Broadening the perspective to society could contribute to a more fruitful dialogue between the sector and society and underline the fact that the financial sector is part of that society.