'The Man' Agrees With Occupy Wall Street Protestors

More

How a banker's support for the 99 percent in Britain has gone viral

RTR382YQ-615.pngAdrees Latif/Reuters

Colleagues of Andrew Haldane, a Bank of England executive director for financial stability, probably don't think of him as the Occupy type. But while speaking at a London event this week that brought together real Occupy protestors with economists, financiers, and others representing the 1%, Haldane praised protestors for making their voices heard, said new models were needed, and policymakers were listening. In short, he said the protestors were "right," adding:

Occupy have touched a moral nerve in pointing to growing inequities in the allocation of wealth and incomes globally. The 99% certainly agrees. But so, more interestingly, do a high and rising share of the 1%.

Haldane's surprising endorsement of the group went viral in the UK press. The Financial Times ran a big spread plus editorial comment, the Guardian ran a poll (vote here), and the Independent quoted Haldane at length :

Some have suggested ... that Occupy's voice has been loud but vague, long on problems, short on solutions. Others have argued that the fault-lines in the global financial system, which chasmed during the crisis, are essentially unaltered, that reform has failed.

I wish to argue that both are wrong - that Occupy's voice has been both loud and persuasive and that policymakers have listened and are acting in ways which will close those fault-lines. In fact, I want to argue that we are in the early stages of a reformation of finance, a reformation which Occupy has helped stir.

Everyone tweeted about it, including the folks at Occupy.

Jump to comments
Presented by

Stephanie Gruner Buckley is the Europe editor at Quartz.

Get Today's Top Stories in Your Inbox (preview)

Why Do Men Assume They're So Great?

Katty Kay and Claire Shipman, authors of this month's Atlantic cover story, sit down with Hanna Rosin to discuss the power of confidence and how self doubt holds women back. 


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

Where Time Comes From

The clocks that coordinate your cellphone, GPS, and more

Video

Computer Vision Syndrome and You

Save your eyes. Take breaks.

Video

What Happens in 60 Seconds

Quantifying human activity around the world

Writers

Up
Down

More in Global

Just In