This ebook has been professionally proofread to ensure accuracy and readability on all devices. His insights are as relevant in today's economic climate as they were when the book was first published in 1873. In Lombard Street, Bagehot-who was the editor in chief of the Economist-sets forth a series of proposals for the strengthening and survival of struggling financial institutions, such as allowing irresponsible banks to collapse and creating strong central banks to combat inflation. When the banks lose the public's trust, the entire system can collapse. Fast-paced and highly-charged, it is a hotbed of financial activity whose impact is felt not just nationally, but globally. Credit, Bagehot suggests, is based primarily on trust. Walter Bagehot The English precursor to Wall Street, London's Lombard Street is the original district of finance and the birthplace of the money market. Written in response to a nineteenth-century banking crisis in England, Walter Bagehot's influential treatise was one of the first to clearly explain complex financial systems like international banking, currency, and corporate finance in clear and easy-to-understand language. Financial observer and journalist Walter Bagehot sheds light on the world of banking in his influential tract
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