"The difference in economic growth rates between countries is almost entirely due to policies and policy choices taken in those countries in the past.~
Selected as a “Global Leader for Tomorrow” by the World Economic Forum, Davos, Richard Werner is Professor of economics at the University of Winchester and a member of Linacre College, Oxford. He is also the founder of the Centre for Banking, Finance and Sustainable Development, the first research centre to focus on substantiality issues in the financial sector. He is author of more than 500 academic articles and the bestselling book, Princess of the Yen.
In addition to his field-defining work on the Quantity Theory of Credit, Professor Werner proposed 'Quantitative Easing' as a novel monetary policy, which was partially responsible for the speedy recovery of the US banking sector and economy after the 2008 financial crisis. He is also known for his seminal paper which proves that banks newly create credit and money when they make loans.
"A banking expert" - BBC