This interview was conducted in English.
Find this interview and its explanatory dossier at https://www.diagrammes.fr/en/folders/the-wall-street-consensus
Duration: 2h41
Daniela Gabor is a heterodox economist and professor at the School of Oriental and African Studies (SOAS) in London, where she has established herself as one of the leading international scholars of macro-finance. She earned her PhD in Banking and Finance from the University of Stirling in 2009 and draws inspiration from post-Keynesian economist Hyman Minsky for her critical approach to the relationship between finance and the State. As an expert consultant for the European Parliament, the G20, the United Nations, and several central banks, she bridges academic research with high-level policy debates. Her forthcoming book, to be published by Norton, will focus on what she calls the “Wall Street Consensus.”
Focusing on the current interactions among central banks, repo markets, Treasuries and private investors, Daniela Gabor has developed the concept of the de-risking State to describe the growing role of governments in steering and securing private investment deemed socially or politically desirable, for example in the context of climate transition. She is also the author and co-editor of several key volumes in political economy, including Central Banking at a Crossroads (2014), The Routledge Companion to Banking Regulation and Reform (2017), and Rewriting the Rules of the European Economy (2019), co-authored with Joseph Stiglitz and Isabel Ortiz.
In this video, Daniela Gabor offers a critical analysis of the evolution of macro-financial regimes, from Bretton Woods and the Washington Consensus to the current Wall Street Consensus. She shows how shifts in economic governance reflect political struggles over the role of private finance in delivering public goods. She questions whether de-risking strategies represent a genuine break with neoliberal orthodoxy or a rebranded form of greenwashing and privatization of the public sphere. Finally, she examines the uncertain future of the Wall Street Consensus in the face of geopolitical turbulence, pointing to the return of the whining hegemon as a possible omen of impending marco-financial change.
CHAPTERS:
00:00:00 – Introduction to THE WALL STREET CONSENSUS
00:07:40 - (Chap.1) Critical Macro-Finance
00:20:32 - (Chap.2) The Formation of a “Consensus”
00:25:40 - (Chap.3) The Demise of Postwar Regimes
00:43:37 - (Chap.4) Washington Consensus VS Wall Street Consensus
00:52:31 - (Chap.5) The investibility pact
01:11:51 - (Chap.6) On Derisking
01:22:23 - (Chap.7)Varieties of Partnerships
01:31:48 - (Chap.8) Sticks and Carrots?
01:47:14 - (Chap.9) Speculations on the Trump factor
02:11:25 - (Chap.10) Mutations and Resilience of the Wall Street Consensus
02:26:19 - (Chap.11) Toward the Big Green State?
Interview by Michel Feher
Conducted on the 11th of April 2025
Directed by Jean-Charles Ho Van Cam
Edited by Thierry Corroyer
Produced by Aurélie Windels
Dossier by Alexandra Bucher
Visual Research by Sophie Liner
Music by Laz Lo, Eeryskies, Damiens Simons
Voice by Amanda Bay
Podcast production : Deborah Le Grand
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#Economics, #Finance, #HeterodoxEconomics, #MacroFinance, #DeRiskingState, #WallStreetConsensus, #CentralBanks, #GreenTransition, #EconomicPolicy, #CriticalEconomics, #SustainableDevelopment, #SocialJustice