Description
Lombard Street: A Description of the Money Market by Walter Bagehot is a seminal work published in 1873 that offers an insightful exploration of London's financial district and its banking practices. Bagehot, an influential economist and journalist, meticulously examines the inner workings of the money market, emphasizing the significance of liquidity and the role of banks in maintaining economic stability. His argument revolves around the necessity of a central bank to provide a safety net during financial crises. Through a detailed analysis of banking operations, Bagehot introduces key concepts such as the importance of the lender of last resort, which continues to resonate in contemporary economic discourse. Rich in historical context and written with clarity, Bagehot's work remains relevant for both economists and general readers seeking a deeper understanding of monetary systems and the complexities of financial markets. His observations have influenced monetary policy and banking practices ever since.
Details
Publisher - Lettel
Language - English
Perfect Bound
Contributors
By author
Walter Walter Bagehot
Published Date - 2025-10-23
ISBN - 9609441264135
Dimensions - 22.9 x 15.2 x 0.9 cm
Page Count - 163
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