“Economics course have been teaching a model of banking that advisors to the Bank of England have been saying is completely inaccurate since the 1980s. They’ve been saying since the eighties that this is the wrong thing to teach, yet if you look at the modern textbooks now, most of them are still teaching this same out of date model which – if it ever did apply – it hasn’t applied for a hundred years.”
Ben Dyson talks to Dr Christopher Daley