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Conclusion: Calming the Storms

In: Calming the Storms

Author

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  • Charles Read

    (University of Cambridge)

Abstract

This chapter concludes the book, summarising the chapters and drawing the main themes from them together. The book demonstrates the importance of thinking about the short term, particularly relating to financial crises, in the long-run course of Britain’s financial history. The book also puts the increased worries about the rise in the Carry Trade in the twenty-first century in their historical context. The Banking School held many similar concerns about investment flows in the nineteenth century, which helped to develop a set of policies that the Bank of England used for a century after the 1860s to prevent severe crises. The abandonment of these policies from 1971 triggered another period characterised by severe financial crises in Britain. A better historical understanding among economists, historians and policymakers of the Banking School’s ideas about the Carry Trade is therefore vital in the efforts to prevent financial instability in the future.

Suggested Citation

  • Charles Read, 2023. "Conclusion: Calming the Storms," Palgrave Studies in Economic History, in: Calming the Storms, chapter 0, pages 313-325, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-3-031-11914-9_10
    DOI: 10.1007/978-3-031-11914-9_10
    as

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