We are delighted to invite you to the launch of “Money and the Great Recession – did a crash in global money growth cause the global slump?” to be published by Edward Elgar in association with the Institute of Economic Affairs.

Banks and free markets are still widely blamed for the financial crisis despite considerable evidence pointing in other directions. This book examines the role that monetary policy operated by central banks played in the great recession.



Edited by Professor Tim Congdon, the authors of the book use their experience to marry theory and practice and demonstrate clearly the real underlying causes of the slump following the financial crisis. They largely find that central bankers made a similar mistake as in the Great Depression in the US.

Professor Patrick Minford, commenting on the book points out: ‘The financial crisis: central bankers were the heroes, and bankers were the villains – right? Wrong, totally. To understand why, read this book, with contributions from many leading economists who study money and central banks. As Tim Congdon, the editor, points out, central bankers permitted much too fast a growth in the money supply in the run-up to the crisis. The banks had every incentive to extend too much credit. The same central bankers then allowed the money supply growth rate to crash when the crisis hit.’

The event will start at 6:30pm. Professor Tim Congdon will introduce “Money and the Great Recession” at 7pm, followed by Q and A, ending with drinks and book sale at 7:30pm. The book will be available for the discounted price of £15 (cash only).

Please RSVP by emailing events@iea.org.uk.