"Regional Banks that are constrained to lend within a particular area are a necessary part of the institutional ecology in that they resist the centralising power of capital, allow a more stable access to credit for regional and smaller businesses and encourage relationships and reciprocity to constrain the demand for higher rates of return that have decimated the mutual bank sector in Britain. They also offer an alternative to usurious lending, one of the great growth areas in our economy. Any serious reflection on ‘employment policies’ must confront the centralisation of capital and the state and seek to constrain both through the endowment of decentralised regional and sectoral institutions that constrain centralisation and preserve and renew traditions of virtue within the economy through resisting the commodification of human beings, nature and knowledge demanded by the maximum return on investment. It allows initiative and enterprise to be oriented towards the future."
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Members of the Parliament of the United KingdomJews from the United KingdomPhilosophers from EnglandAcademics from the United KingdomLabour Party (UK) politicians
Original Language: English
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The Politics of Employment, 23 May 2013
https://en.wikiquote.org/wiki/Maurice_Glasman%2C_Baron_Glasman
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Maurice Glasman, Baron Glasman
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