LEADER 04784nam 22007575 450 001 9910734093303321 005 20230810175849.0 010 $a9783031119149$b(electronic bk.) 010 $z9783031119132 024 7 $a10.1007/978-3-031-11914-9 035 $a(MiAaPQ)EBC7165962 035 $a(Au-PeEL)EBL7165962 035 $a(CKB)25913961000041 035 $a(DE-He213)978-3-031-11914-9 035 $a(EXLCZ)9925913961000041 100 $a20221229d2023 u| 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aCalming the Storms $eThe Carry Trade, the Banking School and British Financial Crises Since 1825 /$fby Charles Read 205 $a1st ed. 2023. 210 1$aCham :$cSpringer International Publishing :$cImprint: Palgrave Macmillan,$d2023. 215 $a1 online resource (381 pages) 225 1 $aPalgrave Studies in Economic History,$x2662-6500 311 08$aPrint version: Read, Charles Calming the Storms Cham : Springer International Publishing AG,c2023 9783031119132 320 $aIncludes bibliographical references (pages 333-351) and index. 327 $aChapter 1. Introduction -- Chapter 2. Peel?s economic-policy regime change in Britain during the early nineteenth century -- Chapter 3. The ideas and policies of the Banking School -- Chapter 4. The crises of 1825 and 1837 -- Chapter 5. The 1847 Crises -- Chapter 6. The 1857-58 crisis, etc. 330 $aThis 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. Charles Read is a British Academy Postdoctoral Fellow in History and an Affiliated Lecturer in Economics and History at the University of Cambridge. He is also a Fellow, Tutor, College Lecturer and Director of Studies at Corpus Christi College and a Research Associate at the Centre for Financial History at Darwin College. His previous research has won the Thirsk-Feinstein PhD Dissertation Prize, the T.S. Ashton Prize, and the New Researcher Prize of the Economic History Society and a prize from the International Economic History Association for the best doctoral dissertation completed in 2015, 2016 or 2017. He has also worked as a writer and editor at The Economist and as a research associate at an investment bank in London. 410 0$aPalgrave Studies in Economic History,$x2662-6500 606 $aEconomic history 606 $aMacroeconomics 606 $aFinance 606 $aHistory 606 $aGreat Britain$xHistory 606 $aSchools of economics 606 $aEconomics 606 $aEconomic History 606 $aMacroeconomics and Monetary Economics 606 $aFinancial History 606 $aHistory of Britain and Ireland 606 $aHeterodox Economics 606 $aEconomics 615 0$aEconomic history. 615 0$aMacroeconomics. 615 0$aFinance. 615 0$aHistory. 615 0$aGreat Britain$xHistory. 615 0$aSchools of economics. 615 0$aEconomics. 615 14$aEconomic History. 615 24$aMacroeconomics and Monetary Economics. 615 24$aFinancial History. 615 24$aHistory of Britain and Ireland. 615 24$aHeterodox Economics. 615 24$aEconomics. 676 $a330.941 676 $a330.941 700 $aRead$b Charles$0733619 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 912 $a9910734093303321 996 $aCalming the Storms$93400403 997 $aUNINA