Kevin Dowd is a Research Fellow at the Independent Institute, Professor of Finance and Economics at Durham University, Partner with Cobden Partners in London, and Professor Emeritus of Financial Risk Management at the University of Nottingham in England. Professor Dowd received his Ph.D. in economics from the University of Sheffield. His books include Measuring Market Risk, Competition and Finance, Current Issues in Monetary Theory and Policy, An Introduction to Market Risk Measurement, Money and The Market: Essays on Free Banking, Beyond Value at Risk: The New Science of Risk Management, The Experience of Free Banking, Laissez-Faire Banking, Private Money, and The State and the Monetary System.