Online Debate
Does the current financial system disserve society? #FBFDiscuss!
A new event of the #FBFDiscuss series
When
14 November 2022
13:00 - 14:00 CET
Where
Online
Zoom
This new FBFDiscuss! debate will focus on the motion "This house believes that the financial system in its current form does not serve society." proposed by Katharina Pistor (Columbia Law School at Columbia University) and opposed by Andreas Dombret (Former Board Member of Deutsche Bundesbank & former ECB Supervisory Board Member, Global Senior Adviser at Oliver Wyman)
Since the 1980s, there has been an apparent bias in wealth distribution, with wealth disparities rising steeply in most advanced economies. Does finance have something to do with this trend? Recent research has confirmed that financial assets, such as companies' stock, are a dominant source of wealth in today’s economy and that unequal rents are linked to the different composition of households' portfolios. The narrative goes that the wealthy, having access to more stock and financial assets, hoard the benefits from the welfare increase brought about by the financial system. As a result, there seems to be a link between wealth inequalities and financial overgrowth. We have invited two high level speakers, Katharina Pistor and Andreas Dombret, to propose and oppose the motion and guide us in the difficult task of understanding the real issues at stake.
Scientific Organiser
Florence School of Banking and Finance
Speaker
Mr. Andreas Dombret
Former Board Member of Deutsche Bundesbank & former ECB Supervisory Board Member, Global Senior Adviser at Oliver Wyman
Prof. Katharina Pistor
Columbia Law School
Moderator
Elena Sedano Varo
EUI - Law Department