Inflation Is About More Than Money:

Economics, Politics and the Social Fabric

On Wednesday 26 March, in conjunction with CCLA Investment Management, CEME hosted an event to launch the publication of a new book by CEME Senior Fellow Lord Griffiths of Fforestfach (Brian).

The event featured a talk on the book by Brian with responses from Lord Glasman (Maurice), founder of the ‘Blue Labour’ movement, a conservative socialism that respects tradition, community and faith, and Andy Haldane, former Chief Economist at the Bank of England.

In Inflation Is About More Than Money, Brian Griffiths charts recent history and policy developments with regard to inflation. He sees inflation as a moral problem: a form of taxation and deceit that those in positions of authority should always seek to address. 

Considering a range of theoretical approaches to inflation, he advances a pragmatic monetarist approach and offers a series of concrete recommendations for both dealing with inflation and protecting against it in the future. In addition, Brian examines the cultural factors at play, such as disillusionment with democracy and social fragmentation. He argues for the importance of a shared moral framework, or “sacred canopy”, to underpin our collective purpose and provide a foundation for economic, social and political stability.

Brian was professor of banking and international finance at City University and dean of the City University Business School. A former member of the Court of Directors of the Bank of England who later served as head of the Number 10 Policy Unit, he is now a member of the House of Lords. He was the founding chairman of the Centre for Enterprise, Markets and Ethics.

Inflation Is About More Than Money: Economics, Politics and the Social Fabric, was published jointly by the Centre and the Institute of Economic Affairs.