British imperialism, the City of London and Brexit


Michael Roberts Blog

A review of The City – London and the global power of finance, by Tony Norfield, published by Verso Books

Tony Norfield has had 20 years experience in City of London financial dealing rooms, for ten years as an executive director and global head of FX strategy in a major European bank.  He went on to complete a PhD in economics at SOAS, London.  Above all, he is a Marxist.  It’s a perfect recipe for an excellent book on modern British imperialism and the features of global finance in the 21st century.

In The City, Norfield brings some key insights into understanding the nature of modern financial systems and what role they play in the working (or non-working) of capitalism.  Norfield emphasises that finance and production in 21st century capitalism are inseparable – “they are close partners in exploitation”.  They always were from the beginnings of industrial…

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