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Lombard Street: A Description of the Money Market

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Timeless insights into finance and economic crises.

If you're interested in the roots of modern financial systems, "Lombard Street" is sort of a historical blueprint that remains relevant even as the markets have evolved. Bagehot's detailed observations offer a deep dive into 19th-century banking and the necessity of a lender-of-last-resort. His commentary still echoes in today's financial strategies, making this book particularly valuable if you're keen on understanding the underpinnings of financial stability and crisis management.

Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.
New

Lombard Street: A Description of the Money Market

Regular price RM44.35 MYR
Unit price
per
ISBN: 9780471345367
Authors: Walter Bagehot
Date of Publication: 1999-01-01
Format: Paperback
Related Collections: Business, Economics, History, Politics
Related Topics: Finance, Money, Finance, Politics, History
Goodreads rating: 3.89
(rated by 402 readers)

Description

Lombard Street began as a series of articles the esteemed essayist and financial advisor, Walter Bagehot, had written for The Economist during the 1850s. First published in book form in 1873, it is a vivid description of the money market that seamlessly brings together theoretical analyses, historical anecdotes, and incisive commentary on sociology, politics, and the Street's various personalities. Sharing his invaluable insights and unique observations, Bagehot touches on everything from the mechanics of deposit banking within a fractional reserve system to the nature of foreign deposits in Britain. Along with a clear explanation of why economic growth and rising living standards are dependent upon a well-managed financial system, he offers straightforward guidelines for the function of lender-of-last resort; a penetrating look at the consequences of uncontrolled credit and speculation; and an in-depth examination of the exchequer in the money market that includes a stimulating analysis of the interaction between the government's fiscal operations and the functioning of the Bank of England, the commercial banks, and the money market. Perhaps most importantly, Lombard Street features Bagehot's prescription for crisis management, which after nearly 150 years, remains the formula of choice for containing—and curtailing—financial crises. Filled with descriptions of Lombard Street that still ring true today, this jewel of a book has withstood the test of time to become a true investment classic—one that will appeal as much to the readers
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Timeless insights into finance and economic crises.

If you're interested in the roots of modern financial systems, "Lombard Street" is sort of a historical blueprint that remains relevant even as the markets have evolved. Bagehot's detailed observations offer a deep dive into 19th-century banking and the necessity of a lender-of-last-resort. His commentary still echoes in today's financial strategies, making this book particularly valuable if you're keen on understanding the underpinnings of financial stability and crisis management.

Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.