Perry G. Mehrling


Perry G. Mehrling is professor of economics at Pardee School of Global Studies at Boston University. He was professor of economics at Barnard College in New York City for 30 years. There, he taught courses on the economics of money and banking, the history of money and finance, and the financial dimensions of the U.S. retirement, health, and education systems. His most recent book is The New Lombard Street: How the Fed became the dealer of last resort (Princeton 2011). His best-known book Fischer Black and the Revolutionary Idea of Finance (Wiley 2005, 2012) has recently been released in a revised paperback edition. Currently, Prof. Mehrling directs the educational initiatives of the Institute for New Economic Thinking, one of which is his course Economics of Money and Banking, available on Coursera at

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Ring-fencing Explained

Article | Oct 2, 2012

Everyone wants to ring-fence something, but they can’t agree on what:

Ring-fencing Explained

Article | Oct 2, 2012

Everyone wants to ring-fence something, but they can’t agree on what: Vickers, Liikanen, Volcker.

Lethal Embrace? A Thought Experiment

Article | Jun 18, 2012

At the heart of the Eurocrisis lies a vicious circle where once there was a virtuous one.

Maynard's Revenge: A Review

Article | May 21, 2012

The Collapse of Free Market Macroeconomics

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Why New Technologies Do Not Make Poor Countries Rich

Video | Feb 7, 2012

Over the past two hundred years, poor countries have become faster at adopting the technologies of rich countries. So why is it, the economist asks, that poor countries have remained poor, by and large?

Facts and Values Are Entangled: Deal with It

Video | Jan 9, 2012

Are there more poor people on our planet today than there were last year? Many economists would approach this question as mainly a technical problem, a matter of counting.

Bottom Up Fiscal Policy: Direct Employment of the Unemployed

Video | Dec 11, 2011

To cure unemployment, mostly we prime the pump: we devise fiscal strategies on the presumption that jobs follow economic growth. But the strategies have not worked, unemployment remains high.

Why Economics Needs Data Mining

Video | Nov 17, 2011

Cosma Shalizi urges economists to stop doing what they are doing: Fitting large complex models to a small set of highly correlated time series data.