John Kay is one of Britain’s leading economists.  His interests focus on the relationships between economics and business.  His career has spanned academic work and think tanks, business schools, company directorships, consultancies and investment companies.   For more details of John’s biography, see the About section.

John Kay chaired the Review of UK Equity Markets and Long-Term Decision-Making which reported to the Secretary of State for Business, Innovation and Skills on the 23rd July 2012. He is a visiting Professor of Economics at the London School of Economics, a Fellow of St John’s College, Oxford. He is a Fellow of the British Academy, a Fellow of the Royal Society of Edinburgh. He is a director of several public companies and contributes a weekly column to the Financial Times. He is the author of many books, including The Truth about Markets (2003) and The Long and the Short of It: finance and investment for normally intelligent people who are not in the industry (2009), Obliquity (2011) and his latest, Other People’s Money was published by Profile Books in September 2015. Some of his most influential, recent work has been on banking regulation, and you can read about his vision for the sector in his 2009 essay, Narrow Banking.

Latest Articles

Incremental improvements to infrastructure offer better value for money

Does it lift your heart to hear that “Britain is uniquely placed to lead the world in a smart power revolution”? Do you share the ambition of George Osborne, chancellor of the exchequer, to discover “what the government needs to do to become a world leader in 5G infrastructure”? Here’s why my heart sank when reading these words in the plans of the UK’s National Infrastructure Commission.

The dangers of ever-closer tax scrutiny

Explaining your possibly complex financial affairs to unsympathetic journalists adds to the already too long list of reasons why able people might not want to go into politics. And such scrutiny draws attention away from genuinely serious and widespread tax evasion, corruption and money laundering, practices.

Central problem with banks is “too complex to fail” not “too big to fail”

Recent stumbles by Bernie Sanders illustrate a misdirection in his attack on the banking establishment. The central problem is not so much “too big to fail” but “too complex to fail”.

Radical uncertainty: The importance of the things we do not know we do not know

There is a world of difference between low-probability events drawn from the tail of a known statistical distribution and extreme events that happen but had not previously been imagined. And it is usually the latter that give rise to crises — and opportunities.