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This authoritative guide to the transformation of the Bank of England into a modern inflation-targeting independent central bank examines a revolution in monetary and economic policy and the modernization of British institutions in the late twentieth century.
Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.
____________________ The authorised history of the Bank of England by the bestselling David Kynaston, 'the most entertaining historian alive' (Spectator). 'Kynaston's aim is to provide a history of the Bank for the general reader and in this he triumphantly succeeds, providing a worthy complement to the notable series of books on different periods of the Bank's history ... wonderfully readable' Financial Times 'Not an ordinary bank, but a great engine of state,' Adam Smith declared of the Bank of England as long ago as 1776. The Bank is now over 320 years old, and throughout almost all that time it has been central to British history. Yet to most people, despite its increasingly high profile, its history is largely unknown. Till Time's Last Sand by David Kynaston is the first authoritative and accessible single-volume history of the Bank of England, opening with the Bank's founding in 1694 in the midst of the English financial revolution and closing in 2013 with Mark Carney succeeding Mervyn King as Governor. This is a history that fully addresses the important debates over the years about the Bank's purpose and modes of operation and that covers such aspects as monetary and exchange-rate policies and relations with government, the City and other central banks. Yet this is also a narrative that does full justice to the leading episodes and characters of the Bank, while taking care to evoke a real sense of the place itself, with its often distinctively domestic side. Deploying an array of piquant and revealing material from the Bank's rich archives, Till Time's Last Sand is a multi-layered and insightful portrait of one of our most important national institutions, from one of our leading historians. ____________________ 'The Old Lady of Threadneedle Street has been waiting for a biographer who could do justice to the richness of her story ... This is the work of a scholar with a gift for illuminating every square inch of each enormous canvas he chooses to paint ... Kynaston brings characters large and small to life' Literary Review 'full of human detail ... an exemplary narrative history, with the archives plundered judiciously and plenty of focus on people and their quirks ... rendered on an entertainingly human scale' The Times 'A triumph ... this portrait of the Bank of England really is fascinating, at times even gripping' Sunday Telegraph
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
The National Book Award–winning history of American finance by the renowned biographer and author of Hamilton: “A tour de force” (New York Times Book Review). The House of Morgan is a panoramic story of four generations in the powerful Morgan family and their secretive firms that would transform the modern financial world. Tracing the trajectory of J. P. Morgan’s empire from its obscure beginnings in Victorian London to the financial crisis of 1987, acclaimed author Ron Chernow paints a fascinating portrait of the family’s private saga and the rarefied world of the American and British elite in which they moved—a world that included Charles Lindbergh, Henry Ford, Franklin Roosevelt, Nancy Astor, and Winston Churchill. A masterpiece of financial history—it was awarded the 1990 National Book Award for Nonfiction and selected by the Modern Library as one of the 100 Best Nonfiction Books of the Twentieth Century—The House of Morgan is a compelling account of a remarkable institution and the men who ran it. It is essential reading for anyone seeking to understand the money and power behind the major historical events of the last 150 years.
