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Tim Johnson
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Some implications of the Bank of England comparing itself to the MetOffice
At some point over the Christmas break I was cursing the fact that I was finding  it difficult to find a weather map.  That is a weather map with isobars and fronts marked on it not one with icons of cloud, rain and sun .  My favourite subject as a final ye...

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Quaker bankers: building trust on the basis of sincerity, reciprocity and charity
This post follows discussions of the norms  sincerity , reciprocity and charity  in financial markets. It suggests that the success of Quaker finance, that funded the British Industrial Revolution (the Darby 's of Coalbrookdale, the Stockton and Darlington ...

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Sincerity - the subjective rationality of markets
The Vietnamese have a proverb: two women and a duck make a market.
This simple saying highlights the inter-subjective nature of markets,
there is an asset (the duck) who’s price is determined through the
discussion of two subjects. The foundation of this pa...

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Why did Shakespeare portray the Merchant of Venice as Christ-like?
I have been interested for a few years in the idea that Antonio, the eponymous Merchant of Venice, is the personification of agape , Christian love, in Shakespeare's play.  While the argument I offer here in the week before Christmas has its basis in Christ...

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The problem of voluntary slavery for utilitarianism
Reciprocity is a norm , a rule embedded in financial mathematics,
which permits high rates of interest to poorer, higher risk,
borrowers. This means that phenomena such as debt-bondage can become
prevalent (von Lilienfeld-Toal and Mookherjee, 2010). Volunta...

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Be Together. Not the Same. Can maths address big data in banking
I recently attended the Alan Turing Institute summit on Data Analytics for Credit Risk  and left wondering if statistics is well placed to address the problems of big data and if there were skills in the humanities that were more appropriate.  It also lead ...

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Building real markets for the good of the people
The Bank of England is seeking to build an 'Open Forum' Building real markets for the good of the people . I am participating in this forum and here I seek to address the questions Are reforms creating the soft and hard infrastructure to ensure FICC market...

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Does the hidden hand need to hold a stake in society?
As the father of a four year old daughter, I have been to the cinema to see the the Disney film, Tinkerbell and the Pirate Fairy .  When I took my daughter to the cinema I had taken an mp3 player as I anticipated I would need a diversion, however I became e...

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Finance and Mathematics: where is the ethical malaise?
This is a draft of an article that has been accepted by  The Mathematical Intelligencer  and offers an argument very similar to Romer's 'mathiness' argument as discussed in my previous pos t. Discussions of the role of mathematics in finance appearing in Th...

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Finance and Mathematics: where is the ethical malaise?
This is a draft of an article that has been accepted by  The Mathematical Intelligencer  and offers an argument very similar to Romer's 'mathiness' argument as discussed in my previous pos t. Discussions of the role of mathematics in finance appearing in Th...
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