David Blanchflower

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David Blanchflower
Mervyn King
Personal details
Born (1952-03-02) 2 March 1952 (age 72)
Queen Mary, University of London
ProfessionEconomist

David Graham Blanchflower,

tenured economics professor at Dartmouth College, Hanover, New Hampshire. He is also a research associate at the National Bureau of Economic Research, part-time professor at the University of Glasgow and a Bloomberg TV contributing editor. He was an external member of the Bank of England's interest rate-setting Monetary Policy Committee
(MPC) from June 2006 to June 2009.

British-born, Blanchflower is now both a British and an American citizen, having moved to the United States in 1989. He was appointed

Commander of the Order of the British Empire (CBE) in the 2009 Birthday Honours.[6]

Education

Blanchflower attended

Queen Mary College, University of London in July 2009 and an honorary Doctor of Letters from the University of Sussex
in July 2011. He was awarded an honorary fellowship by Cardiff University in 2014.

Work in economics

Blanchflower served as a Research Officer at the Institute for Employment Research at University of Warwick from 1984 to 1986, when he became a lecturer at the Department of Economics at the University of Surrey, a post he held until 1989 when he moved to the United States.

He has been a member of the editorial board of Small Business Economics, Scottish Journal of Political Economy, and Industrial and Labor Relations Review.

He has also been a research associate at the Centre for Economic Performance at the London School of Economics and at the Canadian International Labour Network.[7]

The Wage Curve

Blanchflower's The Wage Curve (with

Phillips Curve is wrong, it's as fundamental as that," said Blanchflower.[8] The Guardian praised the findings as "one of the most devastating findings of contemporary economics".[9] The implications, that wages are highest when unemployment is lowest and that increased unemployment drives down wages, have been suggested periodically in economics since the publication of Karl Marx
's Wage-Labour and Capital.

Happiness

Much of Blanchflower's work has focused on the

pharmaceutical advertising.[12]

He has been interviewed several times on

Public Radio[15]
about his work in this area.

Monetary Policy Committee

Blanchflower joined the Bank of England's Monetary Policy Committee in June 2006, replacing Stephen Nickell.[16] Before his appointment, Michael Fallon questioned his non-residency at the parliamentary Select committee on Treasury.[17] Blanchflower attended a number of meetings by conference call.[18] During his tenure, he voted in the minority in eighteen of thirty six meetings. He voted to maintain the interest rate in his first nine meetings, but to reduce interest rates in March 2007 and in every meeting from October 2007 through March 2009.[19]

Six other members of the MPC have served during Blanchflower's time on the MPC. Blanchflower continually voted for rate cuts.[19] At the September 2008 MPC meeting, Blanchflower distanced himself further from consensus by voting for a 0.5% 'cut' against the other eight members' 'hold'.[20]

In the Autumn of 2008, the worldwide economic situation began to deteriorate dramatically, most clearly evidenced by dramatic falls in the values of

shares worldwide. On 8 October 2008, the BOE took part in a set of simultaneously announced cuts in the policy rate of a number of major Central Banks. The MPC eventually came around to Blanchflower's view and subsequently lowered rates to levels never before seen in the Bank of England's existence and moved to do unprecedented levels of quantitative easing
.

In March 2009, it was announced that Blanchflower would be replaced by David Miles at the end of his term, 31 May 2009.[1]

Current work

David Blanchflower is the Bruce V Rauner professor of economics at Dartmouth College, New Hampshire, part-time professor at the University of Stirling, a research associate at the National Bureau of Economic Research, and a contributing editor for Bloomberg TV.

mass resignations
of the Shadow Cabinet, joining them in calling for Corbyn to step down.

Personal life

Blanchflower and his then wife were parties in the notable case of

relations between two females, one of whom is married, does not constitute adultery because it is not technically sexual intercourse.[24]
The case was overturned in April 2021 by the NH Supreme Court in the case of Blaisdell v Blaisdell.

Publications

Footnotes

  1. ^ a b The Guardian, 19 March 2009, Miles to replace Blanchflower on Bank of England monetary policy committee
  2. ^ after the footballer, Danny Blanchflower
  3. ^ "Oration for Professor David Blanchflower by Dr Stephen Gurman". Archived from the original on 23 December 2012.
  4. ^ Professor David Blanchflower – Monetary Policy Committee Member Archived 30 December 2008 at the Wayback Machine, Bank of England, Accessed 12 December 2008
  5. ^ "Danny Blanchflower: The MPC is broken and blinkered". The Daily Telegraph. Retrieved 7 August 2013.
  6. ^ "No. 59090". The London Gazette (Supplement). 13 June 2009. p. 7.
  7. ^ David Blanchflower, Research Fellow. Institute for the Study of Labor. 17 March 2006.
  8. ^ Blanchflower Wages Theory Archived 16 February 2013 at archive.today David Hemmer. The Dartmouth. 13 October 1994.
  9. ^ An End to the Rule of Fish Market Economics. Will Hutton. The Guardian. 25 July 1994. p. 12.
  10. ^ David G. Blanchflower, 2008. "Happiness Economics," NBER Reporter Online, (2), pp. 7–10. Abstract-linked-footnotes version.
  11. ^ A happier retirement Archived 1 October 2007 at the Wayback Machine. Jonathan Clements. The Wall Street Journal. 6 November 2005.
  12. ^ Happiness guru to join Bank Archived 17 June 2005 at the Wayback Machine. Reuters. 22 March 2006.
  13. ^ Economist Calculates the Six-Figure Value of Love. Interview with Renée Montagne and Steve Inskeep. 14 February 2005.
  14. ^ The Economics of Happiness. Interview with Tom Ashbrook. 15 July 2004.
  15. ^ Can't Buy Me Love. Interview with John Walters. 29 November 2004.
  16. ^ Blanchflower to replace Bank's Nickell Archived 17 June 2005 at the Wayback Machine. Reuters. 22 March 2006.
  17. ^ The Committee Office, House of Commons. "Select Committee on Treasury minutes 24 May 2006". Publications.parliament.uk. Retrieved 7 August 2013.
  18. ^ Bank of England (3 January 2013). "Diary List for David Blanchflower - 2008" (PDF). Archived from the original (PDF) on 13 December 2013. Retrieved 28 June 2014.
  19. ^ a b "Historical interest rate voting spreadsheet". Archived from the original on 4 February 2012. Retrieved 7 August 2013.
  20. ^ BBC Bank voted 8–1 to hold UK rates
  21. ^ "David G. Blanchflower Home Page". www.dartmouth.edu. Archived from the original on 7 February 2006. Retrieved 24 January 2006.
  22. ^ "Labour announces new Economic Advisory Committee". Labour Press. 27 September 2015. Retrieved 11 March 2016.
  23. ^ Blanchflower, David (27 January 2016). "Opposing austerity is not enough – Labour's leaders need lessons in economics, fast". New Statesman. Retrieved 11 March 2016.
  24. The Advocate
    . 12 November 2003. Retrieved 9 August 2013.

External links

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