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How Global Finance Drove Deindustrialization

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How Global Finance Drove Deindustrialization Economist Ann Pettifor explains how America’s industrial decline has its roots in the dismantling of the international monetary system established at Bretton Woods and in the rise of a global financial system that prioritizes capital mobility over production. - Interview by - Bartolomeo Sala Economist Ann Pettifor is one of the world’s most authoritativ...
Pettifor's argument presents a compelling steelman: the current financial system, born from the collapse of Bretton Woods, is structurally designed to prioritize capital mobility over production, stability, and ecological sustainability. Her critique is rooted in historical context, tracing the rise of shadow banking to policy shifts in the 1970s and 1980s, and she effectively ties financial deregulation to broader societal crises, from inequality to climate change. By framing the financial syst...