Finance Quote by Robert Skidelsky, Baron Skidelsky
“Bankers were scapegoats for the whole Reagan-Thatcher era, which exalted finance and humbled industry, and which had allowed the fruits of progress to accrue disproportionately to the rich and super-rich.”
About This Quote
Source Book: Capitalism and Freedom: The Great Debate, Robert Skidelsky, 2018
The quote argues that during the Reagan‑Thatcher era, financial elites were blamed while finance was glorified and industry was devalued, leading to wealth concentrating among the richest.
In simple terms: Finance was praised, industry ignored, and wealth piled up at the top.
Key Takeaway
Recognize and address systemic bias favoring finance over productive sectors.
Themes
economics
politics
inequality
history
policy
Mood
critical
reflective
analytical
Type
political
economic
historical
When to use this quote
- policy analysis
- academic research
- public debate
- media commentary
Key Concepts
neoliberalism
wealth distribution
political scapegoating
financialization
Questions to Reflect On
- How did financial deregulation affect ordinary workers?
- Can industry be re‑valued in modern economies?
A Different Perspective
The view may overlook the role of industry in growth and the benefits of financial innovation.
