Richard Werner

Richard A. Werner is professor of banking and economics. He is also director of Local First Community Interest Company, which establishes community banks. He previously was professor of finance at Fudan University, Shanghai, and senior managing director at global macro asset management firms.

Richard is the author of several books including New Paradigm in Macroeconomics (Palgrave Macmillan), which predicted the collapse of the UK banking system and property market, highlighted the problem of 'recurring banking crises' and suggested workable solutions. His book Princes of the Yen (www.quantumpublishers.com) became a no. 1 bestseller in Japan.

His private sector experience includes chief economist at Jardine Fleming Securities (Asia) Ltd., and senior managing director at Bear Stearns Asset Management and Senior Portfolio Manager and founder of the Bear Stearns Global Alpha Fund.

His "General Quantity Theory" (aka the quantity theory of disaggregated credit) has been successfully applied globally since its inception in 1992. His proposal of a new monetary policy for post-banking crisis economies, which he called "Quantitative Easing" (see Nikkei, 2 September 1995, p. 26), has since its inception in 1994 been widely applied, if in partial form, by many central banks.