From Financial Reform to Financial Democratization

While the project of limiting excessive risk in the financial sector is critically important, it is not sufficient.   It is vitally important to reshape the financial system so that currently underfinanced activities and constituencies are able to access credit at fair rates.   This is necessary both to reduce deep inequalities and to facilitate patterns of economic growth that are inclusive and sustainable.    The paper will address some of the key aspects of an ambitious financial democratization agenda.