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Saturday, March 17, 2018

Equity markets are thriving but are they relevant?

The equity markets with which we are familiar came into being in the 19th century to finance railways and railroads. Railways and railroads were...

Bitcoin: Boon or Bubble?

Boon or Bubble? Is Bitcoin a bubble, a scam, a Ponzi scheme? Or a transformational innovation which will change forever the functioning of the global...

A decade since the nationalisation of Northern Rock

10 years on, John reflects on the nationalisation of Northern Rock for the British Academy blog.

Risk, the retail investor and disastrous new rules

I am a board director of Scottish Mortgage Investment Trust (SMIT), a £6bn investment fund based in Edinburgh. You can receive material about the...

I Kid you not, new European rules rely on a bent coin

European regulations which came into force at the start of the year require many providers of Prips (packaged retail investment products) to produce a...

UK needs to expand house building

Tackling the crisis requires rebalancing supply and demand with more new homes

Market-based capital allocation does not support long-term decision-making

A transcript of John's presentation at the Public Hearing on Sustainable Finance at the European Commission on July 18th 2017.
British Tax System

Tax reforms happen better by stealth

It is 40 years since Mervyn King and I wrote a book together on The British Tax System, advocating comprehensive tax reform. Much of what we advocated has come to pass, but more by stealth than design.

Asset managers should compete on philosophy and style

The asset management sector in the UK is very competitive, but not very price competitive. This apparent paradox runs through the FCA’s report on asset management, but is never adequately recognised or explained. But only by acknowledging it can regulators help to create an industry which works better for investors and for the economy as a whole.

Technological change and the future of financial intermediation

John's presentation at the 44th Economics Conference of the Austrian central bank (ONB).