Threadneedle Street: A Reply To Lombard Street (1891)

Threadneedle Street: A Reply to Lombard Street is a book written by Arthur Stanley Cobb in 1891. The book is a critique of Walter Bagehot's Lombard Street, which was published in 1873. Bagehot's book was a seminal work on banking and the role of the central bank in the economy. Cobb's book takes issue with Bagehot's analysis and argues that the Bank of England, which is located on Threadneedle Street in London, is not the all-powerful institution that Bagehot portrayed it to be. Cobb argues that the Bank of England is subject to the same economic forces as any other institution and that its power is limited by the actions of other banks and the broader economic environment. The book is divided into three parts. The first part provides an overview of Bagehot's Lombard Street and sets the stage for Cobb's critique. The second part delves into the specifics of Cobb's critique, arguing that Bagehot's portrayal of the Bank of England is overly simplistic and fails to take into account the complexities of the banking system. The third part offers an alternative vision of the role of the central bank in the economy, one that is more nuanced and takes into account the broader economic context. Overall, Threadneedle Street: A Reply to Lombard Street is an important work in the history of economic thought. It offers a critique of one of the most influential books on banking and central banking and provides an alternative perspective on the role of the central bank in the economy.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.