Central Banks

From Lender of Last Resort to Bailout as First Resort

In the annals of central banking economic literature, there is one name that looms large: Walter Bagehot. As editor of The Economist from 1861-1877, he built up that publication’s reputation and turned it into a newspaper of economic renown. But Bagehot is particularly known for his theory of central...

Bank of England Move Means We’re Entering a Brave New World

Along with George Orwell’s 1984, Aldous Huxley’s dystopian novel Brave New World depicted the extent to which future governments would attempt to dominate society. But increasingly the warnings from Orwell’s and Huxley’s novels are not being heeded, and in fact many question whether the powers that be aren’t using...