Suchergebnisse

This volume contains the first eight lectures delivered in honour of Henry Thornton the economist, at City University, London. Seven of the lectures are by monetary economists and one is by a Governer of the Bank of England. Exchange rates, macroeconomics, and interest rates are discussed.

A recent Government White Paper proposed increased state supervision to regulate the affairs of commercial banks. Forrest Capie, Professor of Economic History at the City University Business School in London, argues that price signals supplied by the market and the role of the central bank as the lender of last resort are sufficient guarantee of banking probity. Increased state supervision is unnecessary and damaging.

The increasing appeals for protection from international competition recall the follies of government and industry in the 1930s. Dr Forrest Capie challenges the conventional wisdom that attributes to protection the recovery from the 1930s Great Depression. He argues it was not resuscitation of old industries but the emergence of new industries that brought Britain out of the slump. Will Paul Channon learn the lesson?