Haldane’s Gambit: Political Arithmetic and/or a New Metaphor

Workaround: In current version of Panels 3.8, it seems this body field needs to be populated in order for title above to appear. This note is hidden by custom CSS style. Jack Latimer.

  • Working Paper


    This article considers the body of work which Andrew Haldane has published since the onset of financial crisis. It draws a distinction between two kinds of criticism in that work: Haldane’s

    interference through political arithmetic on the costs of finance and Haldane’s strategic criticism through re-conceptualisation of the financial network using metaphors drawn from the life sciences. His readers have mainly focused on Haldane’s strategic criticism through concept and metaphor while neglecting his political arithmetic and empirics on the costs of finance. But this article argues that Haldane’s political arithmetic on costs is an important intervention when the finance sector is deflecting reform with a trade narrative about the social benefits of finance.