What is the City of London? The term is in everyday use but few are willing to define it. If pressed some will suggest that it means the entire UK financial sector while others point to a particular part of London - the Square Mile. Neither of these definitions is adequate because the City is both greater and less than either finance alone or a physical location. The author demonstrates that it is only by taking a detailed look at the City over the last 100 years that it can be understood.
In spite of the popularity she enjoyed during her lifetime, Charlotte Riddell (1832-1906) has received little attention from scholars. Silvana Colella makes a strong case for the relevance of Riddell's novels as narrative experiments that shed new light on the troubled experience of Victorian capitalism. Drawing on her impressive knowledge of commerce and finance, Riddell produced several novels that narrate the fate of individuals - manufacturers, accountants, entrepreneurs, City men and their female companions - who pursue the liberal dream of self-determination in the unstable world of London business. Colella situates novels such as Too Much Alone, George Geith, The Race for Wealth, Austin Friars and The Senior Partner in the broader cultural context, examining business manuals, commercial biographies, and essays to highlight Victorian constructions of the business ideal and the changing cultural status of the City of London. Combining historicist and formalist readings, Colella charts the progression of Riddell's imaginative commitment to the business world, focusing on the author's gendered awareness of the promises and disenchantments associated with the changing dynamics of capitalist modernisation. Her book enriches our understanding of Victorian business culture, the literary history of capitalism, and the intersections of gender, genre and economics.
This book exposes, for the first time in modern scholarship, the role that the rise of the Carry Trade played in British financial crises between 1825 and 1866, how in reaction the Bank of England improved its management of monetary policy after 1866 and how those lessons have been forgotten since the 1970s. Britain is one of the few major capitalist economies in the world to have avoided policy-induced systemic financial crises for more than 100 years of its history—between 1866 and 1973. Beforehand, it suffered a series of serious banking panics, in 1825, 1837, 1847, 1857-58 and 1866. Since the 1970s banking instability has returned again, with the global financial crisis of 2007-09 hitting Britain hard. Economists and policymakers have asked what can be learnt from Britain’s experience of the disappearance and reappearance of crises to help efforts to prevent future ones. This book answers that question with a major reassessment of Britain’s financial history over the past two centuries. It does so by applying the long-neglected ideas of the British Banking School to explain how crises can occur because of the Carry Trade. This book is essential reading for economists and historians of modern Britain, practitioners and policymakers, as well as anyone who is affected by financial crises and their consequences.
Globalization is not an external force but a result of concrete business decisions made by millions of entrepreneurs and managers across the world. As such, the modern corporation has completely altered the economic landscape; business and finance have shaped the international order of the modern world. History of Financial Institutions contributes to the analysis of how the modern corporation, business and finance have shaped and keep on shaping our world. In a collection of nine succinct essays, this volume looks at the role of finance in European history from the beginning of the 19th century to the period after the Second World War. Archivists and financial historians, who are also leading scholars of banking and financial history, investigate the ways in which the international post-war order developed. They draw on often hitherto unused archival sources from central banks and other institutions to reveal the unique histories of a variety of European countries and the paths that have led to the contemporary economic and financial system. The collection includes reflections on (monetary) stabilization, inflation, hyperinflation, globalization and public relations in banking and commerce. This book is essential reading for banking and finance executives, as well as policy makers with a historical interest. It will also be of importance to academics with a particular interest in economic history, financial or banking history, and European history.
This book explores the relationship between Dickens’s novels and the financial system. Elements of Dickens’s work form a critique of financial capitalism. This critique is rooted in the difference between use-value and exchange-value, and in the difference between productive circulations and mere accumulation. In a money-based society, exchange-value and accumulation dominate to the point where they infect even the most important and sacred relationships between parts of society and individuals. This study explores Dickens’s critique from two very different points of view. The first is philosophical, from Aristotle’s distinction between "chrematistic" accumulation and "economic" use on money through Marx’s focus on the teleology of capitalism as death. The second view is that of nineteenth-century financial journalism, of "City" writers like David Morier Evans and M. L. Meason,, who, while functioning as "cheerleaders" for financial capitalism, also reflected some of the very real "dis-ease" associated with capital formation and accumulation. The core concepts of this critique are constant in the novels, but the critique broadens and becomes more pessimistic over time. The ill effects of living in a money-based society are presented more as the consequences of individual evil in earlier novels, while in the later books they are depicted as systemic and pervasive. Texts discussed include Nicholas Nickleby, A Christmas Carol, Little Dorrit and Our Mutual Friend.
The Media and Financial Crises provides unique insights into the debate on the role of the media in the global financial crisis. Coverage is inter-disciplinary, with contributions from media studies, political economy and journalists themselves. It features a wide range of countries, including the USA, UK, Ireland, Greece, Spain and Australia, and a completely new history of financial crises in the British press over 150 years. Editors Steve Schifferes and Richard Roberts have assembled an expert set of contributors, including Joseph E Stiglitz and Lionel Barber, editor of the Financial Times. The role of the media has been central in shaping our response to the financial crisis. Examining its performance in comparative and historical perspectives is crucial to ensuring that the media does a better job next time. The book has five distinct parts: The Banking Crisis and the Media The Euro-Crisis and the Media Challenges for the Media The Lessons of History Media Messengers Under Interrogation The Media and Financial Crises offers broad and coherent coverage, making it ideal for both students and scholars of financial journalism, journalism studies, media studies, and media and economic history.
