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Howard Davies

Howard Davies

Writing for PS since 2009
84 commentaries

Howard Davies, the first chairman of the United Kingdom’s Financial Services Authority (1997-2003), is Chairman of NatWest Group. He was Director of the London School of Economics (2003-11) and served as Deputy Governor of the Bank of England and Director-General of the Confederation of British Industry.

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  1. America’s Financial Regulatory System Is Still Broken
    davies85_ Justin SullivanGetty Images_sanfranciscofed Justin Sullivan/Getty Images

    America’s Financial Regulatory System Is Still Broken

    Mar 22, 2023 Howard Davies laments that the post-2008 Dodd-Frank reforms left in place a framework riddled with structural shortcomings.

  2. Central Bankers’ Green Lines
    davies84_CLAUDIO BRESCIANITT News AgencyAFP via Getty Images_jerome powell CLAUDIO BRESCIANI/TT News Agency/AFP via Getty Images

    Central Bankers’ Green Lines

    Jan 19, 2023 Howard Davies holds out little hope for a global consensus on how monetary policy should address climate change.

  3. The Regulators’ Revolt
    davies83_ Peter MacdiarmidGetty Images_bankofengland Peter Macdiarmid/Getty Images

    The Regulators’ Revolt

    Nov 28, 2022 Howard Davies traces the rise and fall of the UK government's recent effort to wield the power to rewrite financial rules.

  4. The Bank of England After Boris
    davies81_TOLGA AKMENAFP via Getty Images_bankofengland Tolga Akmen/AFP via Getty Images

    The Bank of England After Boris

    Aug 11, 2022 Howard Davies considers the merits of raising the monetary authority's inflation target from 2% to 4%.

  5. Howard Davies on forward guidance, central-bank independence, the Volcker Rule, and more
    European Central Bank

    Howard Davies on forward guidance, central-bank independence, the Volcker Rule, and more

    Aug 9, 2022 Howard Davies fears that bringing the current bout of inflation under control will carry high costs, suggests ways monetary policymakers can protect their reputations, defends the UK Treasury from accusations that it is too powerful, and more.

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  1. haldar21_Getty Images Getty Images

    Revisiting the Behavioral Revolution in Economics

    Antara Haldar assesses the legacy of the intellectual challenge to the view that rational self-interest guides our actions.
  2. varoufakis104_Andrew LichtensteinCorbis via Getty Images_amazonunion Andrew Lichtenstein/Corbis via Getty Images

    New AI Germ Busters Can Also Bust Unions

    Yanis Varoufakis shows how an AI-driven biomedical breakthrough could rob workers of what little power they have left.
  3. james206_anilakkusGetty Images_globalization anilakkus/Getty Images

    Globalization’s Warring Narratives

    Harold James examines the analytical disagreements that are hampering management of an unavoidable phenomenon.
  4. op_nagymohacsi2_Namthip MuanthongthaeGetty Images_CBDC Namthip Muanthongthae/Getty Images

    The Digital Economy’s New Monetary Imperative

    Piroska Nagy Mohácsi

    In a rapidly digitalizing world, central banks are staring down a future in which they may lack the tools necessary to manage crises, and in which they may no longer be able to protect their monetary sovereignty. They should recognize that digital currency is a source of institutional salvation.

    thinks governments must embrace central bank digital currencies or risk a fundamental loss of control.
  5. pisaniferry145_ Thierry MonasseGetty Images_eu green deal Thierry Monasse/Getty Images

    Europe’s Climate Quandary

    Jean Pisani-Ferry assesses the inevitable trade-offs the European Union must confront in achieving its clean-energy targets.
  6. basu92_Win McNameeGetty Images_samaltmanopenaisenate Win McNamee/Getty Images

    Governing the Unknown

    Kaushik Basu suggests a few principles to guide policymakers as they try to keep up with rapidly advancing technologies.
  7. oyebanji2_ PIUS UTOMI EKPEIAFP via Getty Images_lassa fever PIUS UTOMI EKPEI/AFP via Getty Images

    Fast-Tracking a Lassa Fever Vaccine

    Oyeronke Oyebanji outlines what West African governments can learn from the development and distribution of the COVID-19 jab.
  8. schleussner1_David McNewGetty Images_heatwave David McNew/Getty Images

    Climate Science Beats Climate Fatalism

    Carl-Friedrich Schleussner, et al. show that the more ambitious 1.5º target for global warming is still feasible – and more necessary than ever.
  9. benami202_Burak KaraGetty Images_erdogan Burak Kara/Getty Images

    Turkey’s Pragmatic Islamist

    Shlomo Ben-Ami expects Recep Tayyip Erdoğan’s latest electoral victory to have little impact on Turkish foreign policy.

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