The End of Alchemy Money, Banking and the Future of the Global Economy - Lord Mervyn King

The Global Governance hosted Lord Mervyn King, Governor of the Bank of England from 2003-2013, on 10 May 2016 at UCL. Lord Mervyn talked about his book in conversation with Prof David Tuckett, Head of the Centre for the Study of Decision-Making Uncertainty at UCL in the Faculty of Brain Sciences. In his book 'The End of Alchemy: Money, Banking and the Future of Global Economy' (Published by Little Brown on 3rd March 2016), Lord Mervyn argues for fundamental changes to the financial system in order to reduce the risk of a new crisis. The past twenty years saw unprecedented growth and stability followed by the worst financial crisis the industrialized world has ever witnessed. In the space of little more than a year what had been seen as the age of wisdom was viewed as the age of foolishness. Almost overnight, belief turned into incredulity. Most accounts of the recent crisis focus on the symptoms and not the underlying causes of what went wrong.