Queen Elizabeth II and the Economists

Dimitris N. Chorafas

Chapter 1 in The Changing Role of Central Banks, 2013, pp 15-36 from Palgrave Macmillan

Abstract: Abstract On November 5, 2008, not quite two months after the Lehman Brothers bankruptcy and the Western economy’s descent to the abyss, Queen Elizabeth II inaugurated a new building at the London School of Economics. Referring to the financial crisis, she asked the professors: “Why did nobody notice it?” The faculty was caught off guard. Among prominent apologies, the Queen received a letter signed by renowned British economists stating: In summary, extent and severity of the crisis and to head it off, while it had many causes, was principally a failure of the collective imagination of many bright people, both in this country and internationally, to understand the risks to the system as a whole.1

Keywords: Monetary Policy; Central Bank; Hedge Fund; London School; Sovereign Debt (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-33228-8_2

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137332288

DOI: 10.1057/9781137332288_2

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().