Walter Eltis was the Mercers' School Professor of Comerce at Gresham College between 1993 and 1996. He is Emeritus Fellow of Exeter College, Oxford, and was Lecturer in Economics at the University of Oxford from 1963 until 1986. He is currently Visiting Professor at the University of Reading, having previously been Visiting Professor at the University of Toronto and European University, Florence, and a visiting reader in Economics at the University of Washington. He was a governor of Wycliffe College and Vice President of the European Society of History and Economic Thought. In 1986, he became Economic Director and in 1988 Director-General of the National Economic Development Office. He was Chief Economic Adviser to Michael Heseltine in the Department of Trade and Industry from 1992 until 1995, and has also edited Oxford Economic Papers.