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Why Main Street will win: Steen Jakobsen on the social contract
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Saxo Bank's chief economist Steen Jakobsen argues that the social contract is running on empty. Greater inequality is the consequence, he says.
Jakobsen argues that people demand a different route. The middle ground has been abandoned, paving the way for the likes of Donald Trump and the possibility of a Brexit.
This translates to greater uncertainty and volatility in the market. And the solution? The social contract must be renegotiated.
Ultimately, when all's done and dusted, Jakobsen believes that the main street will be the winner.