Tuesday 3 May 2005
6:00pm – 8:00pm
New Paradigm in Macroeconomics
Daiwa Foundation Japan House
Organised by the Daiwa Anglo-Japanese Foundation
By Richard Werner
Published by Palgrave Macmillan
‘Werner’s exploration of the reasons for Japan’s long stagnation is simultaneously stimulating and controversial. His study will take the reader on an exciting and well-written detective story to discover the underlying reasons for Japan’s asset boom and subsequent long-drawn-out bust…It is both a powerful and important book, which challenges both much received wisdom and the role of the Bank of Japan.’
– Charles A. E. Goodhart, CBA, FBA, Norman Sosnow Professor of Banking and Finance, London School of Economics
‘A must-read for economists and finance professionals. It will revolutionise economics.’
– Tobias Hoschka, Head of Asian Research, McKinsey & Company
‘Werner has done an excellent job of showing the difficulties and conundrums faced by neoclassical theory when confronted withJapan… Werner’s analysis of banking and credit-money creation, in particular, offers new insights… This is a book that will be read by many more than Japan specialists.’
– Costas Lapavitsas, Head of Department of Economics, School of Oriental and African Studies, University of London
About the contributors
Professor Richard Werner
Richard A Werner is Professor of International Banking at the University of Southampton. Previously, he was Reader at Southampton and Assistant Professor of Economics at Sophia University in Tokyo. He has spent over a decade in Asia, including at the Bank of Japan, the Japanese Ministry of Finance and the Asian Development Bank, and as chief economist of Jardine Fleming Securities (Asia) Ltd and asset allocator of a major pension fund. He is much quoted in the media and has published widely on financial markets and monetary economics. In 2003, he was selected as Global Leader for Tomorrow by the World Economic Forum in Davos
Professor Bill Wakeham
Professor Bill Wakeham is Vice-Chancellor of the University of Southampton since 2001. He had previously spent thirty years at Imperial College London, ultimately holding the positions of Deputy Rector and Pro-Rector (Research and Resources). At Imperial, he stimulated the college’s activities in entrepreneurship. He is a Fellow of the Royal Academy of Engineering, the Institution of Chemical Engineers, the Institution of Electrical Engineers, and the Institute of Physics.