Privatisation and self-regulation has created a financial services sector in the west that is rife with fraud and other criminal activity, says professor Nada Kakabadse of Henley Business School.
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Why is it that western banks are increasingly reliant on business models that reward staff as salespeople, treat clients as fools, and present financial products like goods on a supermarket shelf? The answer requires an appreciation of the neoliberal agenda, which has shaped the way western business has functioned since the early 1980s.
A “sales at any cost” culture, where cross-selling has become a norm for banks, drives customers to purchase as many p
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