Tonight at Cass Business School in London, Prof Franklin Allen from Wharton will be speaking on “Is Finance a Force for Progress“. Now it’s good to be talking about these matters in the Universities. But when are we going to start asking the right questions? As I argued in an earlier post, the catch-all ‘finance’ […]

I never cease to be amazed by how much economics as a profession has forgotten down the decades. Today, my research led me to a 1990 paper by Ronald Coase entitled ‘Accounting and the Theory of the Firm’. It was published shortly before he was awarded the 1991 ‘Nobel Prize’ in Economics. Coase reminisces about the early part […]

Apologies for the month-long silence. The US and UK financial regulators responsible for dealing with the next Lehman Brothers disaster have been making joint plans to do so. A couple of days ago they released a draft. The next Lehman is likely to be one of the other so-called Globally-active Systemically Important Finanicial Institutions (G-SIFIs). […]

Our new Archbishop of Canterbury, Justin Welby, will take office at a time when chronic problems with the economy and financial system are high on the agenda. So I am encouraged that he speaks regularly to these issues with a measure of technical insight as well as spiritual wisdom. In a previous post I suggested […]

Today, Justin Welby was announced as the new Archbishop of Canterbury. So I thought it high time to take a look at some of his sermons and writings while Bishop of Durham. Top of his recent sermon list was a speech that he recently gave to a conference of financiers in Zurich “about the issues facing […]