Economics & Law Treasures

In March 2014, the Bank of England published two articles in its Quarterly Bulletin that were closely modelled on the contents of the book ‘Where does money come from?’. In it, the central bank clearly acknowledged that individual banks create money out of nothing. This fact had been swept under the carpet in modern economics and in economic policy making for many decades. The implications are profound. Now that the truth is out, it is time to reclaim economics, but above all, the discourse on economic policy making, from the bankers.
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The annual economics lecture is an opportunity to review what has taken place in the economics faculty of the School over the last year and to reflect on what has been learnt. One of the highlights of the last year was the receipt by the School of an Award from the Globalisation for the Common Good Initiative led by Professor Kamran Mofid. 
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“The current global crises are not only economic but also spiritual and moral. Therefore, we should not consider tackling the socio-economic and ecological crises without firstly taking into account the moral and spiritual shortcomings that are afflicting the world today.
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