Timothy George Congdon | |
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Born | 28 April 1951 |
Nationality | British |
Timothy George Congdon CBE (born 28 April 1951) [1] is a British economist. [2]
He was educated at Colchester Royal Grammar School and St. John's and Nuffield colleges at the University of Oxford. [3]
Over the years, he has accumulated a long record of commenting on public policy issues, including writing sympathetically about (and deploying in his own analysis) the monetarist approach to macroeconomic policy. He has considerable experience working in the City of London and was the founder of the macroeconomic forecasting consultancy Lombard Street Research. Between 1993 and 1997 he was a member of the Treasury Panel that advised the Conservative government on economic policy, sometimes referred to as the "wise men". [4] [5]
Since May 2008, he has been the economic correspondent for Standpoint magazine. [6] He set up the economic advisory group International Monetary Research Ltd. in 2009; it applies Congdon's monetarist approach.
In January 2011 Congdon became the Honorary Chairman of The Freedom Association. He is on the Advisory Council of the Reform think tank. [7]
Congdon was a prominent defender of the UK Government's action to lend to Northern Rock, arguing that it was quite likely to make money for the government. [8] He is a small shareholder in Northern Rock, a fact that he has disclosed publicly after writing on this issue. [9]
Congdon stood as UK Independence Party candidate for the Forest of Dean constituency in the 2010 General Election, obtaining 5.2% of the votes cast and saving his deposit. In October 2010 he stood unsuccessfully for the leadership of the party. In 2015 he was replaced as the UKIP candidate for Forest of Dean by Steve Stanbury. Congdon supported Britain's exit from the European Union in the UK's 2016 EU referendum. [10]
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Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies. Macroeconomists study topics such as output/GDP and national income, unemployment, price indices and inflation, consumption, saving, investment, energy, international trade, and international finance.
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Market monetarism is a school of macroeconomics that advocates that central banks use a nominal GDP level target instead of inflation, unemployment, or other measures of economic activity, with the goal of mitigating demand shocks such those experienced in the 2007–2008 financial crisis and during the post-pandemic inflation surge. Market monetarists criticize the fallacy that low interest rates always correspond to easy money. Market monetarists are sceptical about fiscal stimulus, noting that it is usually offset by monetary policy.
Jagjit Singh Chadha (Punjabi: ਜਗਜੀਤ ਸਿੰਘ ਚਢਾ, born 1 December 1966 in West Yorkshire is a British economist who is the Director of the National Institute of Economic and Social Research.
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Prof Tim Congdon, economist, 60