This episode is sponsored by Masterworks. Charles Goodhart CBE is Emeritus Professor of Banking and Finance at the LSE, having previously been its Deputy Director. Previously, he had worked at the Bank of England for seventeen years including as Chief Adviser and later In 1997 as independent members of the Bank of England's new Monetary Policy Committee until May 2000. He is the developer of Goodhart's law, an economic law named after him. He has written numerous books including the graduate monetary textbook, 'Money, Information and Uncertainty', ‘The Regulatory Response to the Financial Crisis' (2009) and most recently ‘The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival’ (2020). In the podcast, we talk about: Importance of understanding money demand and the money multiplier Should central banks target monetary aggregates and house prices? The problem with the Fed’s new inflation targeting objectives. Understanding China’s integration to the global economy The challenges of an ageing population Factors that depressed inflation are now turning Why didn’t ageing Japan see inflation Why demographics in the US are inflationary Can India and Africa provide the necessary demographic boost to offset DM ageing? Can Tech replace the missing working age population? How to fix the global debt problem Books that influenced Charles: A Monetary History of the United States (Friedman, Schwartz), Golden Fetters (Eichengreen), the works of Dennis Robertson, James Tobin, Charles Kindleberger, and Robert Eisler