It is a masterpiece of economics, described by J. Central bankers and finance ministers such as Alan Greenspan and Robert Rubin in the U.S., along with leading IMF officials should each sleep with a copy under his or her pillow" (Charles P. Lombard Street, first published in 1873, is more than ever timely in the age of Asian financial flu, Long-Term Capital Management, problems in Russia, Brazil, and on the horizon elsewhere. "Walter Bagehot was a great economist and a great writer-though there is a question as to which was the greater. Though similar in many ways to its American counterpart, this "unequalled fund of floating money" nevertheless possesses a character all its own, the essence of which was brilliantly captured more than a century ago in Lombard Street. Fast-paced and highly-charged, it is a hotbed of financial activity whose impact is felt not just nationally, but globally. The English precursor to Wall Street, London's Lombard Street is the original district of finance and the birthplace of the money market. First edition of this "undying classic" (J.M.
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