Price and financial stability: Rethinking financial markets

David Harrison will talk about his book Price and Financial Stability: Rethinking Financial Markets, to be published by Routledge Economics in 2018. David’s book focuses on the difference between real economy and financial markets, the role of expectations of the future and how uncertainty is addressed. It argues that instability is inherent in many modern financial markets, and therefore a new public policy good of promoting relative asset and financial price stability would be valuable, and might be achieved under a revived Bretton Woods global framework, with general IMF oversight and decentralised action by central banks, financial regulators and competition authorities in their respective jurisdictions and areas of responsibility.