Beware propaganda, false claims and hype. The 20th anniversary of the 'Big Bang' saw a lot of that sort of stuff. The most likely sources of misleading information are the financial markets themselves, a vast array of committed free-marketeers and strangely, politicians, many of whom fall over themselves to gush about the wonders of the City and its benefits.
The real story of the impact of the City on the UK is much more complex and mixed - for example, ask anybody involved in the private pensions scandal or ordinary people who want to buy a house in London.


Private Equity and the Culture of Value Extraction.

Julie Froud and Karel Williams. Manchester Business School Centre for Research in Socio-Cultural Change.

At last! Here is a cool and readable piece of investigation by some experienced economists and business academics. The private equity debate has degenerated into(if it ever rose above) a slanging match between proponents and detractors, generating more heat than light.
Many of those whose voices are to be heard most loudly either have a demonstrable axe to grind or appear to be plain ignorant.
This measured paper cuts through the bullshit and provides an objective view of the private equity industry.
To be avoided by all those who wish to avoid objectivity or distort the truth!

 Section index:
Next article ►
The bosses
Go to top