Latest Issue

The audacity of pessimism

Years of loose monetary policy has left us vulnerable to another financial crisis, says Howard Davies

By Howard Davies   May 2016

"Dining on the Edge of the Abyss": An American cartoon predicting the Wall Street Crash in 1929 © Peter Newark America Pictures/Bridgeman Images

The End of Alchemy: Money, Banking and the Future of the Global Economy by Mervyn King, Little, Brown, £25

I have known Mervyn King for over 20 years. We worked together at the Bank of England in the 1990s. We then worked opposite each…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect