Charles Goodhart, one of Britain's most respected economists and a founder member of the Bank of England's Monetary Policy Committee in 1997, today becomes the latest member of The Times MPC.

Professor Goodhart, a graduate of Trinity College, Cambridge, and Harvard University, is Emeritus Professor of Banking and Finance at the London School of Economics (LSE).

Before joining the LSE in 1985, he worked at the Bank of England for 17 years as an adviser, becoming a chief adviser in 1980. He and Mervyn King, the present Bank Governor, were founders of the LSE's Financial Markets Group, of which he remains a member.

A sheep farmer in his spare time, Professor Goodhart is the author of “Goodhart's Law”, an economic theory which says that once an economic indicator is used to help to set policy, it becomes distorted and a less clear guide.

Explore Economics

• Pre-Budget Report 2008

• Budget 2009

• World Economic Forum

• The Times MPC

Times Recommends

• C&G axed - 1,660 jobs to be lost
• UK house prices rise 1.1% as buyers return
• Mixed reaction to US banks repaying bailouts