Money

‘It might even be fun’: Bank of England set to publish first book demystifying UK economy

A Bank of England project will use proceeds from book sales to improve economic literacy in schools across the country

bank of england

Authors Jack Meaning and Rupal Patel. Image: Penguin Random House

From the price of Freddos to how interest rates can affect a bank balance, the answers to our everyday cash quandaries aren’t always simple.

That’s why the Bank of England is publishing its first-ever trade book to help everyone understand why the UK economy functions the way it does, and what the bank’s role is within it.

Royalties from Can’t We Just Print More Money?, set for release on May 19 this year, will go towards buying more copies of the book to be donated to school libraries and promote economic literacy among younger generations.

“The economy – and economics – is all around us, in the decisions we all make every day at home, at work, or in the shops,” said Andrew Bailey, governor of the Bank of England.

“Despite this, economics is generally not well understood, and nor are economists. We hope that, as well as being an entertaining and informative read, Can’t We Just Print More Money? will help demystify economics and encourage people to learn how we can use it to tackle some of the biggest challenges facing the world today.”

The book was written by Rupal Patel and Jack Meaning, two young economists currently working for the bank. The “surprisingly witty” publication answers ten questions at the heart of the economic mechanisms which affect lives every day.

“Writing the Bank of England’s first book has been a pleasure and an immense privilege,” the economists said. “Doing so during Covid has made us even more aware that economics is not something that matters only inside the walls of the Bank of England, but in the daily lives of every one of us.

“We hope the book can show that economics is for everyone, not just economists. It might even be fun.”

The book’s publication will be partnered with a campaign to promote and improve everyday economic literacy across the country.

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