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Finance
Lombard Street
The book that explained how money actually works — and still does.Walter Bagehot's 1873 study of the London money market is the foundational text of modern finance. Warren Buffett has cited it. Central bankers use it. It explains, with extraordinary clarity, how credit flows, why panics happen, and what wealth actually is.What Bagehot reveals: How the banking system creates and...
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The book that explained how money actually works — and still does.
Walter Bagehot's 1873 study of the London money market is the foundational text of modern finance. Warren Buffett has cited it. Central bankers use it. It explains, with extraordinary clarity, how credit flows, why panics happen, and what wealth actually is.
What Bagehot reveals:
- How the banking system creates and circulates wealth
- Why financial panics are inevitable — and how to survive them
- The difference between real capital and paper credit
- How interest rates govern the movement of money
- The principle that still governs central banking: lend freely at high rates in a crisis
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- Complete, unabridged original text
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- Approximately 228 pages
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