My expertise was in public finance, particularly corporate taxation, since I had worked at the US Treasury.

My main interest, however, was in economics, not law.

Of course. I favor passive investing for most investors, because markets are amazingly successful devices for incorporating information into stock prices.

My research interests since then have shifted strongly towards the economic and regulatory problems of the financial services industry, and especially of the securities and options exchanges.

I'm happy to do some endorsements if I believe in the product. You're only in this game a short time, and you want to collect the money while you can.

The problem with cap-and-trade and programs such as carbon capture and storage is that they all assume that business as usual can continue. The financial meltdown and peak oil has pretty much demonstrated that business as usual's not going to work.

I try not to and I don't think I ever have just jumped at any opportunity because a company wanted me. Just because there was money on the table doesn't mean that I took it.

The money that we make from the company goes into The Body Shop Foundation, which isn't one of those awful tax shelters like some in America. It just functions to take the money and give it away.