Special eventThursday 1 October 2015
6:00pm – 7:30pm
Princes of the Yen
ドリンクレセプション 7:30pm – 8:00pm
13/14 Cornwall Terrace, Outer Circle (entrance facing Regent's Park), London NW1 4QP
The Daiwa Anglo-Japanese Foundation 主催
Princes of the Yen reveals how Japanese society was transformed to suit the agenda and desire of powerful interest groups, and how citizens were kept entirely in the dark about this. Central banks are some of the most secretive and misunderstood institutions in the world. What powers do they wield? Whose interests do they serve? How do their actions affect our everyday lives?
In 2001, Professor Richard Werner released a book entitled Princes of the Yen, which cut through the complex jargon of central bankers and made this obscure world accessible to the public. The book instantly became a number one general bestseller in Japan. Within the context of the history of 20th Century Japan, Richard Werner meticulously solves the puzzle of otherwise mysterious economic events and Bank of Japan policies, and the parallels to other central banks, such as the ECB. He explains the social, political and economic impact of their actions. The documentary provides the viewer with a new understanding of economics and shows how events that may appear disjointed in popular discourse are in reality intimately intertwined.
Princes of the Yen is an independent, self-funded documentary produced by Michael Horwath and directed by Michael Oswald. It was made as a sequel to 97% Owned, a film about how money is created and the impact its creation has.
Professor Werner and the producers of the documentary screened a short version of the film at the event, which was followed by a lively Q&A session.
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Professor Richard Werner
Professor Richard Werner has been at the University of Southampton since 2004, where he is Professor of International Banking and founding Director of the Centre for Banking, Finance and Sustainable Development. He holds a PhD (DPhil) from the University of Oxford. Professor Werner’s book Princes of the Yen became a number one bestseller in Japan. In its English version (2003), he warned that the ECB would create credit bubbles, banking crises and recessions in the eurozone. His 2005 book New Paradigm in Macroeconomics (Palgrave Macmillan) warned of the recurring banking crises and suggested workable solutions. He is co-author of the 2011 book Where does Money Come From? Professor Werner is known, among other things, for his original proposal to create fast economic recoveries after banking crises without costs to the taxpayer through a policy he called ‘quantitative easing’. As Chairman of Local First Community Interest Company he is working towards the establishment of a network of public-interest local banks to decentralise and render accountable the power of money creation and allocation.
Michael Oswald
Michael Oswald is an independent filmmaker and the director of the documentary adaptation of Princes of the Yen. He came across Richard Werner’s book whilst looking for an excuse to visit his fiancé in Japan. His previous film 97% Owned received significant attention both online and through broadcast. He is currently working on a film about Britain’s network of offshore tax havens, titled The Spider’s Web. Michael creates documentaries through “Queuepolitely Films”, an independent production company with the aim of providing a viewpoint free from vested interests.