Clifford Bekar, Economic History Review, 2012
Total Page:16
File Type:pdf, Size:1020Kb
Load more
Recommended publications
-
Gladstone and the Bank of England: a Study in Mid-Victorian Finance, 1833-1866
GLADSTONE AND THE BANK OF ENGLAND: A STUDY IN MID-VICTORIAN FINANCE, 1833-1866 Patricia Caernarv en-Smith, B.A. Thesis Prepared for the Degree of MASTER OF ARTS UNIVERSITY OF NORTH TEXAS May 2007 APPROVED: Denis Paz, Major Professor Adrian Lewis, Committee Member and Chair of the Department of History Laura Stern, Committee Member Sandra L. Terrell, Dean of the Robert B. Toulouse School of Graduate Studies Caernarven-Smith, Patricia. Gladstone and the Bank of England: A Study in Mid- Victorian Finance, 1833-1866. Master of Arts (History), May 2007, 378 pp., 11 tables, bibliography, 275 titles. The topic of this thesis is the confrontations between William Gladstone and the Bank of England. These confrontations have remained a mystery to authors who noted them, but have generally been ignored by others. This thesis demonstrates that Gladstone’s measures taken against the Bank were reasonable, intelligent, and important for the development of nineteenth-century British government finance. To accomplish this task, this thesis refutes the opinions of three twentieth-century authors who have claimed that many of Gladstone’s measures, as well as his reading, were irrational, ridiculous, and impolitic. My primary sources include the Gladstone Diaries, with special attention to a little-used source, Volume 14, the indexes to the Diaries. The day-to-day Diaries and the indexes show how much Gladstone read about financial matters, and suggest that his actions were based to a large extent upon his reading. In addition, I have used Hansard’s Parliamentary Debates and nineteenth-century periodicals and books on banking and finance to understand the political and economic debates of the time. -
Rival Notions of Money
RIVAL NOTIONS OF MONEY Thomas M. Humphrey Introduction Bullionist Controversy (1797-1821) The rise of Milton Friedman’s version of mone- Monetarism did not begin with Friedman nor did tarism in the 1960s and early 1970s provoked an antimonetarism originate with Kaldor or Keynes’s antimonetarist backlash culminating in the late General Theory. Those doctrines clashed as early as Nicholas Kaldor’s The Scourge of Monetarism (1982). the Bank Restriction period of the Napoleonic wars Friedman stressed the ideas of exogenous (i.e., when the Bank of England suspended the converti- central bank determined) money, money-to-price bility of its notes into gold at a fixed price on de- causality, inflation as a monetary phenomenon, and mand. The suspension of specie payments and the controllability of money through the high-powered resulting move to inconvertible paper was followed monetary base. He traced a chain of causation run- by a rise in the paper pound price of commodities, ning from open market operations to bank reserves gold bullion, and foreign currencies. A debate be- to the nominal stock of money and thence to aggre- tween strict bullionists, moderate bullionists, and an- gate spending, nominal income, and prices. tibullionists then arose over the question: Was there By contrast, Kaldor postulated the opposite notions inflation in England and if so what was its cause? of endogenous (i.e., demand-determined) money, reverse causality, and inflation as a cost-push or Strict Bullionists: the classical monetarists supply-shock phenomenon. He denied the possibility Led by David Ricardo, the strict bullionists argued of base control given the central bank’s responsi- that inflation did exist, that overissue of banknotes bility to guarantee bank liquidity and the financial by the Bank of England was the cause, and that the sector’s ability to engineer changes in the turnover premium on gold (the difference between the market velocity of money via the manufacture of money and official mint price of gold in terms of paper substitutes. -
The Classical Economic Stage
© Copyright, Princeton University Press. No part of this book may be distributed, posted, or reproduced in any form by digital or mechanical means without prior written permission of the publisher. CHAPTER ONE The Classical Economic Stage I. The Period of Classical Economics In any detailed discussion of a particular body of ideas, it is perhaps helpful to begin by indicating to the reader the period during which those ideas were of importance. There can be little doubt that the heyday of Classical economics was during the years 1800–1850. Delineation of the period during which Classical economics developed as a body of thought, came to be the ruling approach to economics, ultimately experienced a measure of stag- nation and decay, and was finally supplanted by the young and vigorous development of neo-Classical economics in the “Marginal Revolution,” is however a good deal less easy. At one end it is usual to date the era of Classical economics as begin- ning in 1776, with the publication of Adam Smith’s mighty Wealth of Nations. Such an approach has a strong prima facie appeal, but closer ex- amination raises doubts about it. On the one hand Classical economics owed a great deal to David Hume in certain critical areas, especially that of monetary theory. The relevant part of Hume’s Essays was published in 1752; and it is therefore doubtful if too much weight can be placed on the year 1776. Indeed the influence of Hume upon Smith cannot be ignored; they were close friends, and Hume was appointed by Smith to be his lit- erary executor.1 In addition the work of Adam Smith himself did not sud- denly spring from nothing in 1776. -
Sir Robert Peel, 1780–1850 (I.B.Tauris)
00_Peel_i-xii 11/2/10 11:37 Page i Richard A. Gaunt is Lecturer in Modern British History at the University of Nottingham and a Fellow of the Royal Historical Society. He has edited the diaries of a major Ultra-Tory politician of the period, Unhappy Reactionary: The Diaries of the Fourth Duke of Newcastle under Lyne, and a book of contemporary texts concerning Benjamin Disraeli. He has contributed to the Oxford Dictionary of National Biography and is currently writing Conservative Politics in the Age of Reform: From Pitt the Younger to Sir Robert Peel, 1780–1850 (I.B.Tauris). 00_Peel_i-xii 11/2/10 11:37 Page ii Library Series List 00_Peel_i-xii 11/2/10 11:37 Page iii SIR ROBERT PEEL The Life and Legacy RICHARD A. GAUNT 00_Peel_i-xii 11/2/10 11:37 Page iv Published in 2010 by I.B.Tauris & Co Ltd 6 Salem Road, London W2 4BU 175 Fifth Avenue, New York NY 10010 www.ibtauris.com Distributed in the United States and Canada Exclusively by Palgrave Macmillan 175 Fifth Avenue, New York NY 10010 Copyright © 2010 Richard A. Gaunt The right of Richard A. Gaunt to be identified as the author of this work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988. All rights reserved. Except for brief quotations in a review, this book, or any part thereof, may not be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of the publisher. -
Quaritch Modern Economics Series I
QUARITCH MODERN ECONOMICS SERIES I Böhm-Bawerk, Gossen, Mises, Hayek, Menger, Jevons, Walras, Edgeworth, Fisher, Commons, Veblen, Weber, Pantaleoni, Hobson… Bernard Quaritch Ltd – Autumn 2015 - [email protected] MODERN ECONOMICS SERIES I The inaugural issue of Quaritch’s Modern Economics Series gathers, among other things, remarkable copies of works which brought about one of the most important events in 19th and 20th century economics: what has been called the ‘marginal revolution’, while also exploring its impact on modern American economic thought. Böhm-Bawerk, Mises, Menger, Jevons, Walras, Fisher, Commons among others are represented here, in some cases with fine association copies. A particular mention ought to be reserved for this copy of Gossen’s momentous work, which in content preceded the ‘revolution’ by two decades: in the original wrappers and in fine condition. We hope to continue to illustrate the richness of the modern developments of economic thoughts in further issues of our series. Should you wish to register your particular interest with us, please do so by writing to us ([email protected]) and we will be sure to notify you of relevant new arrivals. MODERN ECONOMICS SERIES I A LITTLE-KNOWN PIONEER 1. AGAZZINI, Michele. La science de l’économie politique. Paris, London, Bossange, 1822 . 8vo, pp. xv, [1], 389, [1] + 13 plates, 1 engraved, 12 folding; a few small marks, short tear (without loss) at head of the half-title; a good copy in recent half morocco with marbled boards, spine gilt in compartments with gilt lettering. £750 First edition of Agazzini’s science of political economy , in which ‘les doctrines sont généreuses et élevées’ (Coquelin & Guillaumin). -
An Avatar of the Currency School's Reform Ideas?
The 100% money proposal of the 1930s: An avatar of the Currency School’s reform ideas? Samuel Demeulemeester To cite this version: Samuel Demeulemeester. The 100% money proposal of the 1930s: An avatar of the Currency School’s reform ideas?. European Journal of the History of Economic Thought, Taylor & Francis (Routledge), 2021, 28 (4), pp.577-598. 10.1080/09672567.2020.1861045. hal-03103172 HAL Id: hal-03103172 https://hal.archives-ouvertes.fr/hal-03103172 Submitted on 7 Jan 2021 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. The 100% money proposal of the 1930s: An avatar of the Currency School’s reform ideas? Samuel Demeulemeester ENS de Lyon (Triangle) Email: [email protected] Abstract: This paper argues that the 100% money proposal of the 1930s should not (as is often the case) simply be considered as an avatar, extended to deposit currency, of the Currency School’s reform prescriptions. The English Bank Charter Act of 1844, indeed, conveyed a double rejection: it not only sought to divorce the issuing from the lending of money, but also to prevent all kind of monetary management, by enacting a specific issuing rule (the “currency principle”) into law. -
Human Sciences a Winter Miscellany
HUMAN SCIENCES A WINTER MISCELLANY BERNARD QUARITCH List 2016/1 BERNARD QUARITCH LTD 40 SOUTH AUDLEY ST, LONDON W1K 2PR Tel: +44 (0)20 7297 4888 Fax: +44 (0)20 7297 4866 e-mail: [email protected] website: www.quaritch.com Bankers: Barclays Bank PLC, 1 Churchill Place, London E14 5HP Sort code: 20-65-82 Swift code: BARCGB22 Sterling account: IBAN: GB98 BARC 206582 10511722 Euro account: IBAN: GB30 BARC 206582 45447011 U.S. Dollar account: IBAN: GB46 BARC 206582 63992444 VAT number: GB 840 1358 54 Mastercard, Visa, and American Express accepted Recent Catalogues: 1433 English Books & Manuscripts 1432 Continental Books 1431 Travel and Exploration, Natural History 1430 Philosophy, Politics, Economics Recent Lists: 2015/10 Napoleonic Caricatures 2015/9 Early Drama 2015/8 Flora & Fauna 2015/7 Classics Recent Bulletins: The Armchair Traveller: Africa Modern Economics I © Bernard Quaritch, January 2016 Cover image taken from item 60. 1. AMOROSO, Luigi. Principii di economia corporativa. Bologna, Nicola Zanichelli, 1938. 8vo, pp. xix, [1, blank], 367, [1, blank], with 17 plates (14 coloured); edges lightly browned; a good copy, uncut and partly unopened in the original printed wrappers; a little soiled. £100 First edition. A mathematician by training, Amoroso (1886–1965) was inspired by Pareto to develop the relationship between pure economics and classical mechanics. ‘He also saw analogies between Heisenberg’s uncertainty principle and economic phenomena’ (The New Palgrave). ‘During the Fascist period he was able, unlike some colleagues, to continue working in Italy. His Principii, written during this period, has discussions of money and equilibrium quite free from political implications and, in the third part, an economic theory of Fascism stated in analytical terms, which remains within the mainstream of economic science’ (Who’s Who in Economics). -
Ten Sulings of Land in Kent
BROMLEY LIBRARIES f t t S * i - CLASS U o 5 C k ACCt> | INVOICE D A J t BT 12 WM 199* BROMLEY TOWN CENTRE - Land Use 1841 Map by Bessie Taylor Model made by C. B. Elmes Contents Introduction Dedication Page 1. The Road Forward - to 1086 1 2. Headway - A Steady Gallop - 1087-1600 7 3. Broad Highways-The Wheels Turn- 1601-1857 13 4. Progress - The Arrival of the Railway 1858-1964 21 5. The Borough - Flying High - 1965 - Forward 29 Notes 1-9 36 Dedication To the inhabitants of The London Borough of Bromley. LADIES AND GENTLEMEN. I submit this little volume, conscious that, where I may have deservedly incurred censure, censure will be my portion, and that, if at all, I shall have merited praise, praise will not be withheld. AFTER - Thomas Wilson “Discription of Bromley” 1797 Introduction I have written this book in an attempt to convey to the reader a feeling of association with, and participation in, the history of Bromley Town and the surrounding district. By embarking upon five imaginary journeys, each one over the same ground, but each representing a different period in history, I have been able to record the facts of local history, told as a story. I trust that I have added to the knowledge already available, encouraged the inquisitive reader to play some part, however small, in preserving as much detail as possible of the local history which is fast disappearing from our midst and thereby to derive satisfaction from making the past, present. C. B.