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Lombard Street : A Description of the Money Market
by Walter Bagehot


Overview - Lombard Street began as a series of articles the esteemed essayistand financial advisor, Walter Bagehot had written for The Economistduring the 1850s. First published in book form in 1873, it is avivid description of the money market that seamlessly bringstogether theoretical analyses, historical anecdotes, and incisivecommentary on sociology, politics, and the Street's variouspersonalities.  Read more...

 
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More About Lombard Street by Walter Bagehot
 
 
 
Overview
Lombard Street began as a series of articles the esteemed essayistand financial advisor, Walter Bagehot had written for The Economistduring the 1850s. First published in book form in 1873, it is avivid description of the money market that seamlessly bringstogether theoretical analyses, historical anecdotes, and incisivecommentary on sociology, politics, and the Street's variouspersonalities.

Sharing his invaluable insights and unique observations, Bagehottouches on everything from the mechanics of deposit banking withina fractional reserve system to the nature of foreign deposits inBritain. Along with a clear explanation of why economic growth andrising living standards are dependent upon a well-managed financialsystem, he offers straightforward guidelines for the function oflender-of-last resort; a penetrating look at the consequences ofuncontrolled credit and speculation; and an in-depth examination ofthe exchequer in the money market that includes a stimulatinganalysis of the interaction between the government's fiscaloperations and the functioning of the Bank of England, thecommercial banks, and the money market. Perhaps most importantly, Lombard Street features Bagehot's prescription for crisismanagement, which after nearly 150 years, remains the formula ofchoice for containing-and curtailing-financial crises.

Filled with descriptions of Lombard Street that still ring truetoday, this jewel of a book has withstood the test of time tobecome a true investment classic-one that will appeal as much tothe readers of today as it did to those of years ago.


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Details
  • ISBN-13: 9780471345367
  • ISBN-10: 0471345369
  • Publisher: Wiley
  • Publish Date: April 1999
  • Page Count: 359
  • Dimensions: 8.52 x 5.57 x 1.07 inches
  • Shipping Weight: 0.99 pounds

Series: Wiley Investment Classics (Paperback)

Related Categories

Books > Business & Economics > Money & Monetary Policy
Books > Business & Economics > Investments & Securities - General
Books > Business & Economics > Finance - General

 
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