Reviews"Two eminent professors emeriti of economic history at City University London have collected some of their published work over three decades into a convenient and useful analytical account of British monetary experiences the last two centuries. Competing hypotheses of connections between money, inflation, central banking, and financial stability are examined to help us understand twenty-first-century events as well as the past...Those who would understand the development of British monetary policies, and appreciate how we got where we are, can do no better than begin with this book."--EH.Net, Those who would understand the development of British monetary policies, and appreciate how we got where we are, can do no better than begin with this book.
Dewey Edition23
Table Of Content1. IntroductionPart One2. Money, Interest Rates, and the Great Depression: Britain from 1870 to 19133. Money Demand and Supply under the Gold Standard: the United Kingdom 1870 19144. Money in the Economy, 1870 19395. Deflation in the British Economy, 1870 19396. The Long Run Behaviour of Velocity in the UKPart Two7. What Happened in 1931?8. Debt Management and Interest Rates: the British stock conversion of 1932 *9. Policy Makers in Crisis: A Study of Two Devaluations10. Price Controls in War and Peace: A Marshallian ConclusionPart Three11. Modelling Institutional Change in the Payments System and its Implications for Monetary Policy12. Can EMU Survive Unchanged?13. Central Banks and Inflation: An Historical Perspective14. The IMF as an International Lender of Last Resort15. Financial Crises from 1803 to 2009: the Crescendo of Moral Hazard16. Central Banking in an Age of Uncertainty
SynopsisThis collection of essays by the eminent financial and monetary historians Forrest Capie and Geoffrey Wood examines and offers explanations of the parts played by money and the banking system in the British economy over the last two centuries. Structured in three chronological parts, it covers: the period of the classical gold standard from 1870 until the First World War, and the associated key issues of the time; the troublesome interwar years, when there was a breakdown in the international economy, the Second World War and immediate post-War years; and the international dimensions of the post-War period up to the present day. It deals with financial crises, periods of stability, and Britain in the international system, and covers topics such as debt management, money and the exchange rate, interest rates and velocity, as well as central bank independence, monetary unions, price controls and the role of the IMF.Combining empirical research and economic theory, this timely publication is essential reading for all scholars of financial, monetary, and economic history., This collection of essays by the eminent financial and monetary historians Forrest Capie and Geoffrey Wood examines and offers explanations of the parts played by money and the banking system in the British economy over the last two centuries. Structured in three chronological parts, it covers: the period of the classical gold standard from 1870 until the First World War, and the associated key issues of the time; the troublesome interwar years, when there was a breakdown in the international economy, the Second World War and immediate post-War years; and the international dimensions of the post-War period up to the present day. It deals with financial crises, periods of stability, and Britain in the international system, and covers topics such as debt management, money and the exchange rate, interest rates and velocity, as well as central bank independence, monetary unions, price controls and the role of the IMF. Combining empirical research and economic theory, this timely publication is essential reading for all scholars of financial, monetary, and economic history., This collection of essays by the eminent financial and monetary historians Capie and Wood examines and offers explanations of the parts played by money and the banking system in the British economy over the last two centuries. It deals with financial crises, periods of stability, and Britain in the international system.