books
lombard street a description of the money market
the government is necessarily at times possessed of large sums in cash . it is by far the richest corporation in the country ; its annual revenue payable in money far surpasses that of any other body or person ... . a modern government is like a very rich man with very great debts which he can not well pay ; its credit is necessary to its prosperity almost to its existence and if its bankers fail when one of its debts becomes due its difficulty is intense . from chapter iv the position of the chancellor of the exchequer in the money marketmuch of what we consider modern economics is the work of british journalist and economist walter bagehot one of the first editors of the influential newspaper the economist and an early proponent of business cycles . here he develops his theory of central banking much of which continues to impact financial thinking today.first published in 1873 this replica of the updated 1910 edition explores the history of londons lombard street from how it came to be the traditional home of banks and moneylenders to how the value of money was determined by the institutions there . joint stocks private banking and the regulation of the banking reserve bagehots discussion of these fundamental economic issues makes this a vital resource for anyone wishing to understand financial history.author bio walter bagehot 1826 1877 also wrote the english constitution 1867 physics and politics 1872 and the postulates of english political economy 1885 among other works .
paperback lightning source inc 2006 isbn13 9781596055070 isbn10 1596055073
book type nf isbn 13 9781596055070 number of pages 404 publisher lightning source inc