Tim Besley is School Professor of Economics and Political Science at LSE. He held positions at Oxford and Princeton prior to joining the LSE as Professor of Economics in 1995. He is a fellow of the Econometric Society and the British Academy and a Foreign Honorary Member of the American Economic Association and the American Academy of Arts and Sciences. His research has a strong policy focus and he gained practical experience of economic policy-making as a member of the Bank of England Monetary Policy Committee between 2006 and 2009. He was recently co-Chair of the LSE’s Growth Commission whose report on the long-term challenges affecting growth in the UK has received considerable attention. He maintains an interest in global issues, especially the institutional factors that determine prosperity around the world.