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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. sinn109_ DANIEL ROLANDAFP via Getty Images_financial crisis DANIEL ROLAND/AFP via Getty Images
    1

    Accounting for Casino Capitalism

    Hans-Werner Sinn draws parallels between recent bank collapses and the late-nineteenth-century “founders’ crash.”
  2. zadek25_ FABRICE COFFRINIAFP via Getty Images_creditsuisseUBS Fabrice Coffrini/AFP via Getty Images
    0

    Who Should Be Bailed Out Next?

    Simon Zadek urges rich-country governments to aid debt-distressed poor countries as urgently as they have their failing banks.
  3. callegari1_Getty Images_crowd population Getty Images
    0

    The Population Boon

    Beniamino Callegari & Per Espen Stoknes correct popular myths about the threat of demographic growth to sustainable development.
  4. songwe8_NIPAH DENNISAFP via Getty Images_ghana NIPAH DENNIS/AFP via Getty Images
    0

    Where Is the Global South’s Rescue Brigade?

    Vera Songwe decries the unequal responses to liquidity crises in Silicon Valley compared to the developing world.
  5. slaughter96_melitasGetty Images_cooperative melitas/Getty Images
    2

    Beyond Industrial Policy

    Anne-Marie Slaughter & Elizabeth Garlow

    The emerging breed of industrial policies, which emphasize production, fair wages, and localism, could serve as the basis for post-neoliberal economies. But to tackle the challenges of the twenty-first century and ensure a sustainable future, we need a policy framework that recognizes the value of human connection.

     make the case for an economic strategy that prioritizes shared prosperity over competition.
  6. afrasmussen17_TOFIK BABAYEVAFP via Getty Images_armeniaazerbaijanconflict Tofik Babayev/AFP via Getty Images
    1

    The Other Conflict on Europe’s Doorstep

    Anders Fogh Rasmussen warns that Azerbaijan may be preparing to renew its military aggression against neighboring Armenia.
  7. varoufakis101_Justin SullivanGetty Images_svb Justin Sullivan/Getty Images
    7

    Let the Banks Burn

    Yanis Varoufakis

    The banking system we take for granted is unfixable. The good news is that we no longer need to rely on any private, rent-seeking, socially destabilizing network of banks, at least not the way we have so far.

     shows why the current private system is unfixable – and why we don’t need to tolerate it anymore.
  8. roach151_ TIMOTHY A. CLARYAFP via Getty Images)_svb collapse TIMOTHY A. CLARY/AFP via Getty Images)
    6

    How China Benefits from Another US Banking Crisis

    Stephen S. Roach thinks America’s latest financial trouble will reinforce a narrative of terminal national decline.
  9. op_schell1_Andrea VerdelliGetty Images_xijinping Andrea Verdelli/Getty Images
    18

    Xi Jinping’s Chinese Tragedy

    Orville Schell interviewed by Irena Grudzińska Gross about the country's increasingly worrisome trajectory, both at home and abroad.

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