Rising wealth concentration helped lead to the 2008 financial crisis and continues to contribute to ongoing financial instability

In the last decade the accumulation of wealth at the top has increased dramatically. Thomas Goda looks at the impact of this on-going concentration of wealth on financial stability. He argues that this concentration was a root cause of the recent financial crisis, and that it still poses a threat to the financial system because sufficient investible securities are not available to satisfy the increasing global demand for financial assets. He writes that to solve this problem wealth has to be redistributed.