Lombard Street: A Description of the Money Market

Lombard Street is Walter Bagehot's famous explanation of the England central banking system established during the 19th century. At the time Bagehot wrote, the United Kingdom was at the peak of its influence. The Bank of England in London, was one of the most powerful institutions in the world. Working as an economist at the time, Walter Bagehot sets about explaining how the British government and the Bank of England interact. Leading on from this, he explains how the Bank of England and other banks - the Joint-Stock and Private banking companies - do the business of finance. Bagehot is not afraid to admit that life at the bank is usually quite boring, albeit punctuated by short periods of sudden excitement. The sudden boom of a market, or sudden fluctuations in the credit system, can create an excited demand for money. The eruption of an economic depression, which Bagehot aptly notes is rapidly contagious around different sectors of the economy, can also make working in the bank a lot less tedious.

Author: Walter Bagehot
Publisher: Lulu.com
Published: 08/02/2018
Pages: 130
Binding Type: Paperback
Weight: 0.44lbs
Size: 9.00h x 6.00w x 0.31d
ISBN13: 9781387997671
ISBN10: 138799767X
BISAC Categories:
- Business & Economics | Banks & Banking
- Business & Economics | Economics | General
- Business & Economics | Investments & Securities | General

This title is not returnable