Charles Goodhart

Professor Emeritus
London School of Economics

Charles Goodhart, CBE, FBA is a member of the Financial Markets Group at the London School of Economics, having previously, 1987-2005, been its Deputy Director. Until his retirement in 2002, he had been the Norman Sosnow Professor of Banking and Finance at LSE since 1985. Before then, he had worked at the Bank of England for seventeen years as a monetary adviser, becoming a Chief Adviser in 1980. In 1997 he was appointed one of the outside independent members of the Bank of England's new Monetary Policy Committee until May 2000. Earlier he had taught at Cambridge and LSE. Besides numerous articles, he has written a couple of books on monetary history; a graduate monetary textbook, Money, Information and Uncertainty (2nd Ed. 1989); two collections of papers on monetary policy, Monetary Theory and Practice (1984) and The Central Bank and The Financial System (1995); and a number of books and articles on Financial Stability, on which subject he was Adviser to the Governor of the Bank of England, 2002-2004, and numerous other studies relating to financial markets and to monetary policy and history. In his spare time he is a sheep farmer (loss-making).

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“The European ideal has so much power that crisis and even division will not permanently prevail.” So says Professor Charles Goodhart. At a time when everyone else is doing crisis-mode, Goodhart, the Norman Sosnow Professor of Banking and Finance at the London School of Economics, is looking through the crisis to deeper structural reforms. “The single most important political reform for the EU is to have the President of the European Commission elected by the voters… The purpose of the exercise is to construct a European polity, and power centre, that answers directly to the people of Europe, and is not simply an apparatus managed by national political leaders.”
This book presents a novel approach to the reform of the world’s financial system, starting with the basic question, what is a financial system for? It shows that the existing system has become far more complicated than it needs to be to discharge its functions – and dangerously unstable into the bargain. It proposes some drastic remedies.

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Welcome to our new video series called "New Economic Thinking." The series will feature dozens of conversations with leading economists on the most important issues facing economics and the global economy today.

This episode features Charles Goodhart, former member of the Bank of England's Monetary Policy Committee, who offers a central banker's view on the global economy. Below is an introduction from interviewer and Director of Institutional Partnerships Marshall Auerback. Watch the interview for more!

Why did central banks fail to see the crash coming in 2008?

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Keynote panel on "The Future of Central Banking" at the Institute for New Economic Thinking's "Changing of the Guard?" conference in Hong Kong. Featured panelists include Distinguished Fellow of the Fung Global Institute Liu Mingkang and INET Advisory Board members Charles Goodhart, Richard Koo, and Adam Posen, with Fung Global Institute President and INET Advisory Board member Andrew Sheng moderating.

Closing remarks by INET Executive Director Rob Johnson and Fung Global Institute President and INET Advisory Board member Andrew Sheng.

 

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The panel discussion at the Future of Finance Conference at the London School of Economics. Speakers include Vince Cable, Adair Turner, Andy Haldane, Martin Wolf, Peter Boone, Charles Goodhart, John Kay, Andrew Large, Andrew Smithers, Sushil Wadhwani and Paul Woolley