I am professor of finance and economics at Durham University Business School.
I am interested in monetary, financial and macroeconomics, and in political economy generally. My main interest is in free banking or laissez-faire financial systems and private money, but I am also interested in central banking and financial regulation, monetary economics, macroeconomics, sound money, financial risk management, pensions/PensionMetrics and mortality and longevity risk.
Recent projects include bank capital adequacy, central bank stress tests, Brexit, CoCo bonds, the War on Cash, cryptocurrency, helicopter money, Napoleonic war finance, living with unreliable mortality data (a big problem in the life actuarial field), longevity risk management and big data mortality modelling.
My thinking is heavily influenced by Austrian, Monetarist and Public Choice economics. Austrian economics teaches us the importance of first principles, spontaneous order, unintended consequences and the pitfalls of interventionist policies. Monetarism teaches us the importance of the Quantity Theory of Money and the limitations of Keynesian macroeconomics. Public Choice economics teaches us to see policy issues in terms of underlying vested interests, including those of public agencies such as central banks and regulatory agencies. An underlying theme of my work is the importance of institutional arrangements, respect for the rule of law and skepticism about policies that rely on the wisdom of policymakers' discretion or ability to forecast the future.
I am an adjunct scholar at the Cato Institute (Washington), a senior fellow of the Adam Smith Institute (London) and of the Cobden Centre for Honest Money and Social Progress, a member of Economists for Free Trade (formerly Economists for Brexit), a research fellow of the Independent Institute (Oakland, CA), a member of the academic advisory board of the Institute of Economic Affairs (London) and a member of the advisory board of the TaxPayers' Alliance. I also work with Cobden Partners (London), the Istituto Bruno Leoni (Turin) and Sofia Business School (Sofia, Bulgaria).
BA (First Class Honours), University of Sheffield (1980); MA (Economics), University of Western Ontario (1981); PhD (Economics), University of Sheffield (1988).
I live in Sheffield, England.
Prospective PhD students and Academic Visitors
I am currently unable to take on any PhD supervisions or accommodate visiting scholars.
Durham University Business School, Mill Hill Lane, Durham DH1 3LB, United Kingdom.
Email: firstname.lastname@example.org; email@example.com.
If you wish to contact me, my preferred contact in the first instance is firstname.lastname@example.org.
Date: 21 February 2018