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More specific criticisms might be harder to address. One is the effect of negative real interest rates, after taking account of inflation, which have reduced the value of savings since rates were first cut in response to the financial crisis. Particular anger has been directed at the European Central Bank from many northern European savers.

«The financial industry, as a crisis ‹winner›, struggles to be heard»

Another concern relates to the impact of quantitative easing, or QE, whereby central banks have been buying assets to encourage reinvestment and support economic growth. Empirical evidence has, to some extent at least, vindicated the popular view that QE has mainly benefited the rich, whose investment assets have been inflated in value.

However, how can we know the counterfactual outcome from a different approach? Had central banks not stepped in with QE and lower interest rates, the economic pain inflicted by the global financial crisis – including on those who lost out most – could have been much worse.

Despite the lack of clear-cut answers on these issues, the champions of todays' economic system struggle to be heard. In many ways this is understandable. The financial industry is perceived as having been the «winner» in this system and so any arguments it makes to highlight the risks from more radical change will typically be received with skepticism.

«Those in the financial system have to show it can work for all »

The industry is widely believed to be self-serving and has certainly provided ammunition for its critics. It must continue to work hard to improve its standing and enrich the communities it serves. Those that work within the financial system must display humility and an openness to new points of view. Economic prescriptions that appear solely to benefit our own position will fall on deaf ears.

Finance must work to re-establish its legitimacy at the heart of an economic system that is not just seen to work for the «winners» of globalisation, and support appropriate interventions where markets fail. More than this, capitalism must also recapture its popular appeal by demonstrating that it can work for all.

«Radical ideas should all be explored»

Without reform, alternatives to the current model will seem appealing in the current «age of anxiety», even if past experience has shown them to fail.

There’s no shortage of radical ideas to address these shortcomings. Ideas such as a citizens' dividend or «helicopter money»– where central banks transfer money directly to households, bypassing the usual transfer mechanisms – or a universal basic income for all adults, or sovereign wealth funds dedicated to a specific social purpose, should all be explored.

Finding workable ideas that create a more inclusive form of capitalism is essential. If global finance and the economic system are to regain legitimacy, popular reform cannot be the preserve of populists alone.

Anne Richards has been CEO of British asset manager M&G Investments for more than two years. Previously, she was investment chief at rival Aberdeen. She began her career at CERN in Geneva following studies at the University of Edinburgh. After further education at Insead in Fontainebleau, she switched to finance. She has also worked for Alliance Capital, J.P. Morgan and Mercury.

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