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About Richard Duncan

Author, Economist, Consultant, Speaker

Richard Duncan is the author of four books analyzing the causes and the effects of the economic crises that have brought the global economy to the brink of collapse during recent decades.

The Dollar Crisis: Causes, Consequences, Cures (John Wiley & Sons, 2003, updated 2005), predicted the global economic disaster that began in 2008 with extraordinary accuracy. It was an international bestseller. The Corruption of Capitalism: A strategy to re-balance the global economy and restore sustainable growth (CLSA Books, 2009) described the long series of US policy mistakes responsible for the Crisis of 2008. The New Depression: The Breakdown Of The Paper Money Economy (John Wiley & Sons, 2012) introduced an important new analytical framework, The Quantity Theory of Credit, that explained all aspects of the global economic crisis that began in 2008: its causes, the rationale for the government’s policy response to the crisis, and likely future developments.

His latest book is The Money Revolution: How to Finance the Next American Century (John Wiley & Sons, 2022). The first two parts of the book describe the evolution of Money and Credit over the last century. These include a detailed history of the Federal Reserve since its establishment in 1913 and a discussion of the transformation of our economic system from Capitalism to Creditism during the five decades since Dollars ceased to be backed by Gold. Parts One and Two show that a “Money Revolution” has occurred and fundamentally altered the way the global economy functions. Part Three demonstrates that this Money Revolution opens up unprecedented opportunities for the United States to radically accelerate economic growth, enhance human wellbeing and strengthen US national security by investing aggressively in the Industries and Technologies of the Future.

Since beginning his career as an equities analyst in Hong Kong in 1986, Richard has served as global head of investment strategy at ABN AMRO Asset Management in London, worked as a financial sector specialist for the World Bank in Washington D.C., and headed equity research departments for James Capel Securities and Salomon Brothers in Bangkok. He also worked as a consultant for the IMF in Thailand during the Asia Crisis. Richard currently publishes Macro Watch, the biweekly video newsletter he founded in 2013.

Richard has appeared frequently on CNBC, CNN, BBC and Bloomberg Television, as well as on BBC World Service Radio. His books have been reviewed in the Financial Times and The Economist, and taught at Harvard and Columbia.

He is also a well-known speaker whose audiences have included The World Economic Forum’s East Asia Economic Summit in Singapore, The EuroFinance Conference in Copenhagen, The Chief Financial Officers’ Roundtable in Shanghai, The World Knowledge Forum in Seoul, and the CFA Society during a speaking tour around South America. In February 2023, Richard was the guest speaker at a House Ways and Means Committee policy dinner in Washington, D. C.

Richard studied literature and economics at Vanderbilt University (1983) and international finance at Babson College (1986); and, between the two, spent a year traveling around the world as a backpacker.