Why We Made ‘Secret City’
David Priestland writes in The Guardian:
“Ever since London challenged Amsterdam as the west’s main trading hub in the 17th century, a “merchant”-style capitalism has dominated the centres of power. This encouraged a particular economic outlook – flexibility and market awareness, but also a preference for short-term profit over long-term domestic investment.
“London’s economic elites were masters of global networks, but less interested in developing the home economy – hence the frequent tensions between finance and industry. Merchant dominance also helps explain why Britain – unlike Germany – has never enjoyed the collaboration between finance, technocratic industrialists and scientists and workers that is so essential for stable growth.
“This approach seemed plausible when global finance boomed after the 1980s. City profits and easy credit obscured the deep flaws beneath the surface. But with the collapse of that model in 2008, Britain has reached a turning point: it either “resets” its economy or it continues on the old course, and risks social crisis.”
We think so too. That’s why we made Secret City.