“The peculiar essence of our banking system is an unprecedented trust between man and man. And when that trust is much weakened by hidden causes, a small accident may greatly hurt it, and a great accident for a moment may almost destroy it.”
Quote by Walter Bagehot
Work
Lombard Street: A Description of the Money Market
This book offers an in-depth analysis of the London money market, examining its structure, functions, and impact on the global financial system. It delves into the practices and mechanisms of the money market, providing historical context and insights into the role of Lombard Street as a financial hub. more
Author
Walter Bagehot
Walter Bagehot was an English journalist and social philosopher, best known for his editorial role at The Economist. His writings on economics, finance, and political institutions have had a profound impact on the field. more
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