Table of Contents

Introduction by Philip Booth; The successes and failures of UK monetary policy, 2000-08 by John Greenwood; Origins of the financial market crisis of 2008 by Anna J. Schwartz; The financial crisis: blame governments, not bankers by Eamonn Butler; Market foundations for the new financial architecture by Michael Beenstock; The failure of capital adequacy regulation by Kevin Dowd; Regulatory arbitrage and over-regulation by James Alexander; Banking regulation and the lender-of-last-resort role of the central bank by Tim Congdon; Accounting aspects of the financial crisis by D R Myddelton; The non-problem of short selling by Laurence Copeland; Ratings agencies, regulation and financial market stability by Alan D Morrison; The global financial crisis: the role of financial innovation by David T Llewellyn; Moral failure: borrowing, lending and the financial crisis by Samuel Gregg; More regulation, less regulation or better regulation? by Philip Booth; Thoughtful regulation by Geoffrey Wood; The future of financial services regulation by John Kay; The global financial crisis: incentive structures and implications for regulation by David T Llewellyn.

About the Author

Philip Booth is editorial and program director at the Institute of Economic Affairs and a professor of insurance and risk management at Cass Business School. He worked for the Bank of England as an advisor on financial stability issues and has written widely, including a number of books, on investment, finance, social insurance, and pensions, as well as on the relationship between Catholic social teaching and economics. He is editor of economic affairs and associate editor of the Annals of Actuarial Science and the British Actuarial Journal.