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Transparency, Measurement and ICT - Cause of, or Cure for, the Next Financial Crisis?

Speaker: Michael Mainelli, Executive Chairman, Z/Yen Group and Visiting Professor, Information Sysyems and Innovation Group, London School of Economics and Political Science

Date and time: Monday 27 February 2012, 1600 - 1730

Location: NAB 5.21

Drawing on over a quarter of a century working in the City of London’s financial markets, Michael intends to explore measurement and ICT’s contributions to causing the financial crises since 2007. He will take a critical look at a number of suggestions for reform, e.g. alterations to capital ratios or suggestions for better governance. Along the way he hopes to demonstrate that most of these suggestions are politically motivated and unlikely to reduce systemic risk. Michael’s work on Confidence Accounting has led him to believe that the underlying information systems paradigm in finance is a contributory element to financial instability. However, drawing from a number of strands of the work in Long Finance|, Michael hopes to illustrate that a more nuanced view of transparency, measurement and ICT, as well as the fundamental nature of money, might help ameliorate future bubbles and pops.

After a career as a research scientist and accountancy firm partner, Michael Mainelli co-founded the City of London’s leading commercial think-tank, Z/Yen, to promote societal advance through better finance and technology. Michael created the Global Financial Centres Index, is Emeritus Professor of Commerce at Gresham College,  a visiting professor in ISIG and seeks to promote sustainability through Long Finance. Michael has won a Smart Award for prediction systems, a Foresight Challenge award for financial research, been named UK IT Director of the Year and served on the board of Europe’s largest R&D organisation. Michael was awarded his PhD from LSE in 2004.