The Greatest Crash argues that the financial system which evolved from the early Italian bankers has now reached a roadblock. Evolution is needed. But bureaucratic design, delegated government, and group think, all combine to prevent evolution.
This study offers an analysis of the UK's current economic policy options and a plan for improving life for ordinary citizens via a sensible and realistic understanding of governments' limited ability to manage economic performance. It provides a manifesto which political parties could immediately adopt to make life better for all.
This contextual update shows that central banks continue to be relevant and essential for sound functioning of economies. Central banks require to pursue traditional functions relating to currency and payment systems and to being banker to the government and to banks as vigorously as before the crisis.