Quantitative easing

Left-leaning economists were right when they argued in the early 2010s that markets do not look after themselves. But this insight was taken on board by elites to protect the system rather than transform it. Policymaking was reshaped so that the full economic might of the state was mobilised to stabilise the financial wealth of the richest. Over the past 10 years, those with financial assets have seen their wealth increase as stock markets boosted on quantitative easing steroids.