Lombard Street: A Description of the Money Market (eBook)

Walter Bagehot (1826–1877) was an esteemed British journalist, economist, and editor who made significant contributions to the fields of politics, economics, and literature during the 19th century. Bagehot was the third editor of 'The Economist', a position through which he gained considerable influence in British public life. Born in Langport, Somerset, he was educated at University College London and pursued a career in banking before turning his attention to writing. His unique ability to articulate complex financial matters in accessible prose is epitomized in his seminal work, 'Lombard Street: A Description of the Money Market' (1873), which remains a foundational text in the understanding of the functioning of financial institutions and the money market. This book is considered a classic in economic literature, providing shrewd observations on the banking system and crisis management still relevant today. Bagehot is also known for his works on the English constitution and political system, showcasing his expansive intellectual range. His literary style combines practical insights with a clear analytical approach, reflecting his belief in the importance of both empirical evidence and theoretical frameworks. His contributions have left an enduring legacy in both economic thought and journalism, with the annual 'Bagehot Lecture' delivered in his honor by prominent figures in finance and politics.