Examples of using Bagehot in English and their translations into German
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Official/political
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Political
In 1867, Walter Bagehot wrote.
Bagehot, Constitution 1867, and Dicey, Introduction 1885.
Two notable holdouts are Jamie Dimon and Walter Bagehot.
In W. Bagehot,« Estimates of some Englishmen and Scotsmen», 1858.
There are two elements of the Constitution:" wrote Walter Bagehot in 1867.
Armel Le Divellec: Bagehot and the functions of British Parliament.
The method wasdescribed in the late 19th century by Walter Bagehot 1873.
Walter Bagehot is in no position to threaten Carney, or any other regulator.
We need more Eichengreens, Shillers, Akerlofs, Reinharts, and Rogoffs- not to mention a Kindleberger,Minsky, or Bagehot.
In his book Lombard Street, Walter Bagehot quoted Jeremiah Harman, the governor of the Bank of England in the 1825-1826 crisis.
So the big lesson is simple:trust those who work in the tradition of Walter Bagehot, Hyman Minsky, and Charles Kindleberger.
By Teutonic, Bagehot seemed to mean the Protestant world: the United States, recovering from the Civil War, Germany, and Britain.
Here is the most interesting part of Summers' long answer:“There is a lot in[Walter] Bagehot that is about the crisis we just went through.
Bagehot(1826-1877) was a mid-nineteenth-century editor of The Economist who published a book about financial markets, Lombard Street, in 1873.
This pattern would not have surprised nineteenth-century economists like Mill orWalter Bagehot, who understood the financial-sector origins of industrial depression.
The British economist Walter Bagehot replied at the time that there would probably be two competing world currencies, which he termed Latin and Teutonic.
In today's political world he has to play a role strongly resembling that of a constitutional monarch-as Walter Bagehot brilliantly put it 150 years ago:"the right to be consulted, the right to encourage and the right to warn.
Bagehot, W., on the social virtues among primitive men, 117; slavery formerly beneficial, 117; on the value of obedience, 130; on human progress, 132; on the persistence of savage tribes in classical times, 183.
As far back as 1873, in his classic book on central banking, Lombard Street, Walter Bagehot noted that central banks should be able to prevent financial panics by injecting liquidity into the economy.
The standard checklist of what to do in a financial crisis to avoid a deep and prolonged depression has been gradually worked out over two centuries: by Bank of England Governor Cornelius Buller in 1825; by the Victorian-era editor of The Economist,Walter Bagehot; and by the economists Irving Fisher, John Maynard Keynes, Milton Friedman, among many others.
The famous English economist and essayist Walter Bagehot once said that« No real English gentleman, in his secret soul, was ever sorry for the death of a political economist».
Even if, at heart, they take the Bagehot view, all bankers recognize that market confidence requires them to demonstrate a more solid capital base to attract wholesale funding, as well as to satisfy the stricter demands of regulators.
Why is the idea, common to John Maynard Keynes, Milton Friedman, KnutWicksell, Irving Fisher, and Walter Bagehot alike, that governments must intervene strategically in financial markets to stabilize economy-wide spending now a contested one?
This is the rule set out by Walter Bagehot more than a century ago: calming the markets requires central banks to lend at a penalty rate to every distressed institution that would be able to put up reasonable collateral in normal times.