On 6 July, Andy Haldane, the former chief economist at the Bank of England and incoming Director of the Royal Society of Arts, gave a speech at Local Trust‘s inaugural Community Power Lecture.

In his lecture, titled ‘The Second Invisible Hand’, Haldane called for a fundamental rethinking of the relationship between the market, state and civil society. He introduced a new model of ‘community capitalism’, which places communities at the centre stage, and highlighted the importance of a Community Wealth Fund in rebuilding social infrastructure and enabling community-led change.

Read the full speech