Models Informing Central Bankers Are Mostly Bunk

Models Informing Central Bankers Are Mostly Bunk

Mervyn King served as governor of the Bank of England from 2003 to 2013—which means that the worst global financial collapse since the Great Depression happened smack-dab in the middle of his watch. What better person to explain what caused that 2008 debacle and how to prevent a recurrence than this highly esteemed central banker—subsequently made a life peer by Queen Elizabeth—who was "present at the destruction" (King's own witticism) of the world's banking and financial system?

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