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The Global Financial Crisis - Why Didn't Anybody Notice?

On 17 June 2009, a group of leading academics, economics journalists, politicians, civil servants, and other practitioners met at the British Academy for a round-table discussion of the current financial crisis. The question under discussion in this British Academy Forum had been framed by Her Majesty The Queen on a visit to the London School of Economics in November 2008, when she had asked: if these things were so large, how come everyone missed them? A purpose of the Forum was to provide the basis of an ‘unofficial command paper’ that attempted to answer this question. The discussion inevitably ranged more widely – touching on the social fall-out of the crisis, and including a plea for a greater emphasis on the teaching of economic history in universities. But it was with The Queen’s question in mind that the two convenors of the meeting, Professor Tim Besley FBA and Professor Peter Hennessy FBA, subsequently drafted a letter summarising the discussion: it was sent to Buckingham Palace on 22 July.

• Tim Besley and Peter Hennessy

The whole article can be downloaded as a PDF file.

Published in British Academy Review, Issue 14 (November 2009).

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