Walter Bagehot and the Problem of the “Lender of Last Resort”

“If an archeological seeker of the origins of the socialization of risk in high finance wants to find clues, let him or her begin with an excavation of Lombard Street.”

— James Grant, Bagehot, p. 268

https://mises.org/wire/walter-bagehot-and-problem-lender-last-resort

SEE:

Book: Bagehot: The Life and Times of the Greatest Victorian

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