Economists to blame for recession - BoE policymaker

clock

A top Bank of England economist has said his profession should take part of the blame for the financial crisis, according to the Telegraph.

Andy Haldane, executive director for financial stability at the Bank, said economists had misled policymakers in the run up to the credit crunch by promoting a "blinkered view" of the world based on the premise their theories were always right. The report added Haldane said the academic establishment, including central bankers, should own up to its mistakes. Haldane said: “It’s right that it should shoulder some of the blame [for the financial crisis]. In part, this is because thinking within the wider academic economic community did start to shape and influence public policy in imp...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Reeves defends yearly Budget to avoid 'constant chopping and changing'

Reeves defends yearly Budget to avoid 'constant chopping and changing'

Treasury Committee scrutinises chancellor on Spring Statement

Isabel Baxter
clock 02 April 2025 • 3 min read
Five key takeaways from the Spring Statement 2025

Five key takeaways from the Spring Statement 2025

OBR growth, ISA reforms and defence

Sorin Dojan
clock 27 March 2025 • 4 min read
Bank of England halts interest rate cuts amid ongoing inflation

Bank of England halts interest rate cuts amid ongoing inflation

As priced in by markets

Sorin Dojan
clock 20 March 2025 • 2 min read