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1 PRESS RELEASE March 9, 2016 (London) - Bill and Ben Productions and Brainstorm Media announce the release of Terry BOOMBUSTCLICK.COM Joness new feature documentary BOOM BUST BOOM, which shows the link between our unstable economy and how economics is taught. A mix of live Twitter @boombustclick action, animation, puppetry and song, BOOM BUST lnstagram @boombustclick BOOM opens theatrically in the UK on March 23 at Facebook/BoomBustBoom the RSA in London, will be at selected cinemas March 24 and iTunes/Amazon/On Demand March 29. A timely call to action, BOOM BUST BOOM investigates the worldwide economic crash of 2008, and how we can avoid another global collapse in the For press enquiries contact: future. Analysing the direct link between the unstable Chuck Baker +44 75 0812 5611 financial system and our reliance on mainstream [emailprotected] economics, the film puts a spotlight on the mistakes of the past some politicians and central bankers would like us to forget. BOOM BUST BOOM also features high profile advocates for change such as John Cusack, journalists MONTY PYTHON Paul Mason and John Cassidy plus leading experts Running time 72 minutes Rated 12A TERRY JONES including the Chief Economist of the Bank of England, Shot on C300 Andy Haldane, and Nobel Prize winners Daniel Locations UK, US, Netherlands & Puerto Rico TACKLES GLOBAL Kahneman, Robert Shiller and Paul Krugman. The documentary is a result of a meeting between ECONOMICS IN BOOM writer, director, historian and Python Jones and economics professor and entrepreneur Theo Kocken, BUST BOOM OPENING founder of Cardano Insights. BOOM BUST BOOM is LER co-written by Jones and Kocken and co-directed by RAI THEATRICALLY IN Jones with son Bill Jones and Ben Timlett, AKA Bill & Ben Productions. TO V I EW T UK ON MARCH 23 AT I wanted to be part of this project as soon as I THE RSA IN LONDON discovered economics students are taught crashes just dont happen, filmmaker Terry Jones commented. Kocken continues, BOOM BUST BOOM is a film Followed by release on iTunes about our inherently unstable economic system and and On Demand March 29 proposes a simple idea - lets adapt economics to human nature. BOOM BUST BOOM 2

2 NOTES TO EDITORS: ABOUT BILL AND BEN PRODUCTIONS ABOUT THE RSA ABOUT ECONOMY Following their appearance in Boom Bust Boom, Rethinking Economics announce a brand new current Through undertaking and sharing cutting edge research affairs and education website. Launching in March Emmy Nominated Directors and Producers Bill Jones and and driving innovation, the RSA creates networks and Economyuses comedy, animation, writing, news and Ben Timlett grew up together in South East London, opportunities for people to collaborate and create real world jargon-free economics. With support from BOOM BUST starting out in the industry as editors. Over the years impact. Our areas of work range from the future of our cities BOOM executive producers Cardano Insights, Economy is Bill and Ben have developed a unique and distinctive and communities, to education, moving towards a more on a mission to change the way we think about economics approach to storytelling using a vast range of techniques creative economy and the redesign of public services. and make it more relevant to peoples lives. and media coupled with a clear vision to inform and entertain audiences. ABOUT CARDANO INSIGHTS Boom Bust Boom is their third feature as co-directors and co-producers. Other credits include A Liars Autobiography starring the five remaining members of Monty Python and Absolutely Anything, produced by the pair in 2015 and starring Simon Pegg and Robin Williams. ABOUT BRAINSTORM MEDIA Executive Producers of the economic documentary Boom Bust Boom and funders of educational website Economy, Cardano Insights focuses on the world of economics and finance, and on how a robust approach to risk management can help lead to a stable financial life. The organisation aims to grow the understanding of responsible financial management by turning academic Founded in 1995, Brainstorm Media is a full service US film economic theory into relevant and practical examples distributor and production company. A boutique with a that can be taught in schools, universities and companies, strong base of strategic partners, it is widely recognised for through to government organisations. The team is led its expertise in TV, VOD and SVOD and for its innovations by Theo Kocken, co-group CEO of Cardano and also in distribution and marketing. Recent releases include Professor of Risk Management for Institutional Investors Anders Morgenthalers The 11th Hour, PlantPure Nation, at the VU University of Amsterdam. Cardano Insights is and Patagonias Jumbo Wild. Brainstorm Media worked the educational arm of Cardano, a purpose-built pension with Bill and Ben previously, handling all North American investment manager with an advisory mind-set. distribution for A Liars Autobiography. BOOM BUST BOOM 3

3 SYNOPSIS A timely call to action, BOOM BUST BOOM Jones asks, in this case, are we are able to investigates the worldwide economic crash of recognise a bubble when we are in one? One 2008, and how we can avoid another global economist, Hyman Minsky, spent decades collapse in the future. Analyzing the direct link discredited by his peers until 2008 when his between the unstable financial system and our lifes work on the inevitability of crashes proved reliance on mainstream economics, the film prophetic and experts finally recognized Minsky puts a spotlight on the mistakes of the past Boom Bust Boom is a seriously comic might be on to something. However, as the world some politicians and central bankers would like recovers from its latest crash, its all too likely us to forget. Minsky will be forgotten and the cycle of boom look at why crashes happen, told by a Taking as its starting point the 2008 economic and bust will devastate us again in years to come. member of Monty Python, the finest crisis, Monty Python Terry Jones walks us BOOM BUST BOOM presents an idea -if human through the history of crashes. In the years beings are inherently irrational, as illustrated leading up to the most recent economic crash, minds in economics, writers, puppets by footage from behavioural research facility lending had become so reckless a third of all Monkey Island in Puerto Rico the economic homeowners bought houses with socalled ninja system should perhaps be adapted to protect and a movie star. loans between 20045. Borrowers could state their assets without the need for evidence, and us from our behaviour. mortgages were approved. The riskiest lending In order to change the economic system, we created a domino effect throughout all lending, must start with education. Today, virtually no suddenly banks distrusted each other and debts university degree syllabus will cover crashes, were not renewed. This liquidity crisis saw the as the idea of a financial crisis challenges the banks collapse in succession. existing economic model. As a result, graduate economists enter the workplace unable to The crash shocked the world, but how did engage with the real world. BOOM BUST BOOM experts not see it coming? Crashes have been suggests a simple solution, change the teaching happening throughout history for centuries, and the new generation of economists will from Tulip Mania in 1637 to the South Sea change the system. Bubble of 1720 to the Wall Street crash of 1929 and many in between and after. The speculative euphoria preempting each crash is not an isolated phenomenon but intrinsic to human nature. We spend money hoping wonderful things will happen to us in the future and invent explanations to justify extended borrowing and spending, recklessly optimistic. BOOM BUST BOOM 4

4 THE CONTRIBUTORS Dan Ariely Willem H Buiter Dan Ariely is the James B. Duke Professor of Willem H Buiter has taught at Princeton Psychology and Behavioral Economics at Duke University, the University of Bristol, the London University and a founding member of the Center School of Economics, Yale University and for Advanced Hindsight. Ariely has said that Cambridge University. He was an external he wrote the books Predictably Irrational and member of the monetary policy committee The Upside of Irrationality in an attempt to of the Bank of England and Chief Economist take my research findings and describe them and Special Counsellor to the President of in non-academic terms so that more people the European Bank for Reconstruction and will learn about this type of research, discover Development. He has been an advisor to and the excitement of behavioral economics, and consultant for, amongst others, the International possibly use some of the insights to enrich Monetary Fund, the World Bank and the their own lives. European Commission. Dirk Bezemer John Cassidy Dirk Bezemer holds a PhD in economics and John Cassidy has been a staff writer at two MSc degrees in agriculture. He was a The New Yorker since 1995. His latest book, researcher at Imperial College, London and How Markets Fail: The Logic of Economic worked in policy advice and in the UK civil Calamities, was published in November, 2009. service (DfID) before joining Groningen Cassidy is also a contributor to The New York University where he is an Associate Professor. Review of Books and a financial commentator His 2009-2010 work on financial fragility for the BBC. and economic models was widely quoted. He contributes regularly in the Dutch press JK Galbraith and is a frequent invited speaker at international conferences. From the 1950s through the 1970s, John Kenneth Galbraith was one of the most widely read economists in the United States. Author Zvi Bodie of The Affluent Society and The New Industrial Zvi Bodie is the Norman and Adele Barron State, Galbreith was on the editorial board of Professor of Management at Boston University Fortune, became an economics professor at and has served on the finance faculty at Harvard and was an adviser to President John F. Harvard Business School and MITs Sloan Kennedy. He was also president of the American School of Management. Professor Bodie has Economic Association in 1972. published widely on pension finance and investment strategy in leading professional journals. His textbook Financial Economics is co-authored by Nobel Prize winning economist, Robert C. Merton. BOOM BUST BOOM 5

5 Andy Haldane Paul Krugman Hyman P Minsky Robert J Shiller Andrew G Haldane is the Chief Economist at Paul Krugman is the professor of Economics Financial economist Hyman P Minsky studied Professor Shiller was awarded the 2013 the Bank of England and Executive Director and International Affairs at Princeton University at Harvard and Chicago University and was Nobel Prize in Economic Sciences, together for Monetary Analysis and Statistics. In 2014, and in 2008 won the Nobel economics prize a Levy Institute distinguished scholar from with Eugene Fama and Lars Peter Hansen, TIME magazine voted him one of the 100 most for his analysis of trade patterns and location of 1990 until his death in 1996. Minsky taught for their empirical analysis of asset prices. influential people in the world. Andy has written economic activity. He is one of the founders of at Carnegie Tech and Brown University, was Shiller is Sterling Professor of Economics at extensively on domestic and international the new trade theory. Krugman is the author an associate professor of economics at the Yale University and Professor of Finance and monetary and financial policy issues. or editor of 20 books, over 200 papers and is a University of California, Berkeley, and professor Fellow at the International Center for Finance, columnist for The New York Times. of economics at Washington University, St Yale School of Management. He has written Daniel Kahneman Louis. Minsky rejected conventional economic numerous books and also has a regular column George Magnus ideas such as the efficient market hypothesis in Economic View in The New York Times. Daniel Kahneman is a Senior Scholar at favour of what he called the financial instability the Woodrow Wilson School of Public and George Magnus is an independent economist, hypothesis. He was a recipient in 1996 of International Affairs, Professor of Psychology consultant, author and commentator who, until Nathan Tankus the Veblen-Commons Award, given by the and Public Affairs Emeritus at the Woodrow recently, held the position of Senior Economic Association for Evolutionary Economics. Nathan Tankus is a student and research Wilson School, the Eugene Higgins Professor Advisor at UBS and had previously been their assistant at the University of Ottawa. His of Psychology Emeritus at Princeton University Chief Economist. He is well known for his current research interests include the history of and a fellow of the Center for Rationality at commentaries and interviews in the media, Lucy Prebble economic thought, economic history, financial the Hebrew University in Jerusalem. He has especially concerning the Great Financial Crisis Lucy Prebble wrote the critically acclaimed instability and crises, the evolution of monetary been the recipient of many awards, including of 2008. ENRON which transferred to the West End systems, public and private planning, and the Nobel Prize in Economic Sciences in 2002. and Broadway in 2010 after sell out runs at both balance of payments economics. Paul Mason the Royal Court and Chichester Festival Theatre. Steve Keen Prebble won the award for Best New Play at the Sweder Van Wijnbergen Channel 4 News Economics Editor TMA Theatre Awards, and was shortlisted for Steve is Associate Professor of Economics & Paul Mason won the Wincott Prize for the Evening Standard Award and Olivier Award Van Wijnbergen has a PhD in Econometrics Finance at the University of Western Sydney, Business Journalism in 2003, the Workworld for Best New Play. She is currently adapting and a doctorate in economics from MIT. He and author of the popular book Debunking Broadcaster of the Year in 2004 and the ENRON for Sony Pictures. worked as chief economist at the World Bank Economics. Keen was one of the handful of Diageo African Business Reporting Award in and then became Professor of Macroeconomics economists to realise that a serious economic 2007. His report on the social movements at the University of Amsterdam. He advices crisis was imminent in 2008 and publicly behind Bolivian president Evo Morales was Laurie Santos many governments and institutions on taxation, warned of it as early as December 2005. cited when Newsnight was awarded the Laurie Santos runs the Comparative Cognition pensions, financial reforms and privatisation . This, and his pioneering work on modeling Orwell Prize in 2007. Laboratory (CapLab) at Yale, where she and debt-deflation, resulted in him winning the collaborators across departments (from Revere Award from the Real World Economics Perry Mehriling psychology to primatology to neurobiology) Review for being the economist whose work is explore the evolutionary origins of the human most likely to prevent a future financial crisis. Perry Mehrling is a member of the Academic mind by studying lemurs, capuchin monkeys and Council at the Institute for New Economic other primates. Santos and her team have taught Thinking and has been a professor of economics monkeys to use a form of money and Santos Stephen Kinsella at Barnard College since 1987. He has also held research suggests that the source of our bad Stephen Kinsella is a senior lecturer in visiting positions at the MIT Sloan School of money decisions might be our monkey brains. economics at the Kemmy Business School, Management and Boston University. Mehrling University of Limerick and a Research Fellow received a bachelors degree from Harvard at the Geary Institute at UCD. He has University, a masters degree from the London written four books, is a weekly columnist for School of Economics, and a Ph.D. from the Irish Independent and also writes a Harvard University. bi-weekly column for the Guardian regarding his knowledge of the Irish and European economies. BOOM BUST BOOM 6

6 THE TEAM TERRY JONES THEO KOCKEN & CARDANO BILL AND BEN PRODUCTIONS MADE VISUAL STUDIO Terry Jones is a director, writer, actor, historian Theo Kocken is a veteran economist and Bill Jones and Ben Timlett met when they were Justin Weyers, creative director at Made Visual and member of Monty Python. His directorial entrepreneur. He has 25 years of experience in four in Camberwell, South London. In 1998 Studio, produced and directed animation, and credits include features films (Life of Brian, the financial industry. He is professor of Risk they formed Bill and Ben Productions to direct, acted as creative lead for the boombustclick The Meaning of Life, The Holy Grail, Personal Management at VU University Amsterdam and produce and edit independent feature films, initiative. With 15 years of experience working Services, Erik The Viking), documentaries founder of the Anglo-Dutch risk management documentaries and music videos together. across advertising, fashion, branding and film (Medieval Lives, Barbarians) and screenplays firm Cardano. His aim is to make financial In 2010, both Bill and Ben received two production. The studios recent projects have (Labyrinth, Ripping Yarns). Terry is also author of decision making less of a gamble and more nominations each in the best direction and best been focused on collaboration, education and several books including Chaucers Knight. focused on stabilizing lifelong income for young production categories of the 62nd Prime Time entertainment for the likes of National Trust, people, entrepreneurs and retirees. As chairman Emmy Awards for Monty Python Almost The Ebay and KISS. of Cardano Insights, he and his colleagues Truth. Boom Bust Boom is their third feature Made Visual Studio is focused on mentoring, also support innovative financial insurance as co-directors and co-producers. Other credits creative opportunity and ownership. As products such as drought insurance and currency include A Liar's Autobiography starring the animation producer on the feature film A Liar's insurance in over 50 developing countries. five remaining members of Monty Python Autobiography they brought 17 different styles of Education is integral to Theos work. and Absolutely Anything, produced by animation together from 15 international studios. the pair in 2014 and starring Simon Pegg and Robin Williams. Making economics entertaining Made Visual Studio and its team have thrived in the process. BOOM BUST BOOM 7

7 THE TEAM CONTINUED JONNY & WILL MAISIE NOBLE ARTHURCOX MOTH COLLECTIVE Awarded a Golden Arrow for Best New Director London-based illustrator Maisie Noble gradua ted BAFTA Award winning film and animation Moth is an award winning animation collective at the 2013 British Television Advertising Craft from University of the Arts London in 2013 with Production Company ArthurCox is known for based in London. After graduating from the awards and nominated for a Children's BAFTA, a first class honours degree in fashion illustra strong character based narratives. We are Royal College of Art in 2010, they began Jonny Sabbagh & Will Harper are puppet tion. Maisie has since worked on a wide variety particularly respected for our Disney childrens collaborating and exploring their shared love in filmmakers with ten years experience. of projects from Boom Bust Boom to a monthly series Nina Needs to Go, comedy such as all things drawn.Specialisingin hand-drawn and series of illustrations for fashion publication Volt, the multi award winning John and Karen 2D animation,they work on a variety of projects, Johnny & Will's work includes TV shows, feature an animated project for The National Trust and by Matthew Walker and for the animated from short and feature film work to commercial films, music videos and commercials. The pair pattern and print design for shoe designer Ffion documentaries of George Sander-Jackson. projects, music videos and films for charities direct, write scripts, perform voices, create Lloyd. Maisie's work proved hugely influential and non-profitorganisations.Their work has environments, write and record music, make to Boom Bust Boom as she rendered the world's been screened in festivals worldwide and props, rig and puppeteer just about anything. financial history in her trademark style. won numerous awards including a Bafta For Boom Bust Boom, world leaders and nomination for 'Matter Fisher'. They are economists were brought to life as Johnny & Daniel Chester, David Prosser, and Will created puppet versions of President Calvin Marie-Margaux Tsakiri-Scanatovits. Coolidge, J.K. Galbraith and Hyman Minsky. BOOM BUST BOOM 8

8 FILM STILLS TO DOWNLOAD ALL IMAGES BOOM BUST BOOM 9

9 PRODUCTION STILLS TO DOWNLOAD ALL IMAGES BOOM BUST BOOM All photography stills copyright Nick Rutter (Director of Photography) 10

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