Introduction with Professor Tim Congdon
Professor Tim Congdon, the founder of the Institute of International Monetary Research, discusses the aims of the institute, why it was set up, and discusses the link between money and national income.
The purpose of the Institute of International Monetary Research is to demonstrate and bring to public attention the strong relationship between the quantity of money on the one hand, and the levels of national income and expenditure on the other.
The Institute is heavily involved in the analysis of banking systems, particularly their role in the creation of new money balances. The relationships between money and national income/expenditure hold in all countries over long periods, and the Institute's research covers many countries. The "quantity theory of money" could be characterized as an "always-and-everywhere theory".
The Institute - which is associated with the University of Buckingham in England - was set up in 2014, in the aftermath of the Great Financial Crisis (a.k.a., "the Great Recession") of 2007 - 2009. It is an educational charity.
The Institute is an educational charity, with the status of a ‘charitable incorporated organisation’. Its governance and organisation are the responsibility of a board of trustees. Our trustees are: Professor Tim Congdon (chair), Miss Venetia Congdon (secretary), Professor Terence Kealey, Vice-chancellor of the University of Buckingham from 2001 to 2014, and Professor Martin Ricketts, Dean of Humanities at the University of Buckingham from 2001 to 2014, and Brandon Davies, non-executive director of Lintel Limited.