The City

The City:London and the Global Power of Finance

  • Paperback

    + free ebook

    Regular price $16.95 Sale price $13.56
    Page redirects on selection
    Add to cart
    20% off
  • Hardback

    + free ebook

    Regular price $29.95 Sale price $23.96
    Page redirects on selection
    Add to cart
    20% off
  • Ebook

    Regular price $9.99 Sale price $7.99
    Page redirects on selection
    Add to cart
    20% off

How the financial centre of the world works

The City, as London’s financial centre is known, is the world’s biggest international banking and foreign exchange market, shaping the development of global capital. It is also, as this groundbreaking book reveals, a crucial part of the mechanism of power in the world economy. Based on the author’s twenty years’ experience of City dealing rooms, The City is an in-depth look at world markets and revenues that exposes how this mechanism works. All big international companies—not just the banks—utilize this system, and The City shows how the operations of the City of London are critical both for British capitalism and for world finance. Tony Norfield details, with shocking and insightful research, the role of the US dollar in global trading, the network of British-linked tax havens, the flows of finance around the world and the system of power built upon financial securities. Why do just fifty companies now have control of a large share of world economic production? The City explains how this situation came about, examining the history of the world economy from the post-war period to the present day.

Reviews

  • Norfield writes from a position of experience: he has worked in the belly of the beast, and the book is the better for it...In The City, he has done the research and pulled together the financial statistics that explain how the bloodsucking works.

    Financial Times
  • With heaps of empirical research and a clear style of argumentation, he demonstrates that the City isn't a "satellite of Wall Street" as many think, but its own beast, using Britain's imperialist privilege to extract value from the world economy. Much of the book is directed against bad arguments made by the liberal-left – the distinction between "productive" capitalism and"casino" banking; the populist vitriol against "the banks"– which Norfield believes aren't just analytically false but let capitalism off the hook.

    Vice
  • This book does the seemingly impossible: rendering finance’s mysteries transparent to the average reader, and at the same time delivering a penetrating analysis of the global economic system that will enlighten even experts. Tony Norfield has written a truly exciting and important book.

    Paul Mattick, author of Business as Usual