A comparative history of bank failures: from Medici to Barings
Starting with Medici and Fugger and ending with Barings and Royal Bank of Scotland under neo-liberal de-regulation, the author gives an account of how a number of banks failed over a 500 year-period. The author offers an explanation of the leading ideas about the world and good society at the time,...
Gespeichert in:
1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
London
Routledge
2019
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Schriftenreihe: | Banking, money and international finance
Banking, money and international finance |
Schlagworte: | |
Online-Zugang: | Volltext |
Zusammenfassung: | Starting with Medici and Fugger and ending with Barings and Royal Bank of Scotland under neo-liberal de-regulation, the author gives an account of how a number of banks failed over a 500 year-period. The author offers an explanation of the leading ideas about the world and good society at the time, and summarizes this narrative using Streeck & Schmitter's three bases for regulation of society: Community (spontaneous solidarity), State (hierarchical control), and Market (dispersed competition). The bank failures are presented in the context of social philosophies of the day (scholasticism, mercantilism, neo-liberalism, and libertarianism), and the changing business practices (Bills of Exchange, rents and financial instruments of various kinds). The dominating explanation of financial crises has been market-related. Here, the author argues that managerial failures are an important contributor. He demonstrates the failure of management to act on early signals such as existential risk, strategic stress syndrome, and lack of proper oversight by top management. The author encourages a return to ethical principles for banks, suggesting that his ethical aspect should be at the core of the credit process of banks in the future. With its interdisciplinary approach, this book will be an important contribution to the discussion surrounding bank failures. It will interest any scholar looking at the origins of financial crises and will be particularly useful for post-graduate students of economic and financial history, banking, finance and accounting |
Beschreibung: | 1 online resource (xiii, 195 pages) illustrations |
ISBN: | 9780429200489 042920048X 9780429573514 0429573510 9780429577734 0429577737 9780429575624 0429575629 |
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dewey-tens | 330 - Economics |
discipline | Wirtschaftswissenschaften |
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spelling | Jönsson, Sten A. 1940- Verfasser aut A comparative history of bank failures from Medici to Barings Sten Jönsson London Routledge 2019 © 2019 1 online resource (xiii, 195 pages) illustrations txt rdacontent c rdamedia cr rdacarrier Banking, money and international finance Starting with Medici and Fugger and ending with Barings and Royal Bank of Scotland under neo-liberal de-regulation, the author gives an account of how a number of banks failed over a 500 year-period. The author offers an explanation of the leading ideas about the world and good society at the time, and summarizes this narrative using Streeck & Schmitter's three bases for regulation of society: Community (spontaneous solidarity), State (hierarchical control), and Market (dispersed competition). The bank failures are presented in the context of social philosophies of the day (scholasticism, mercantilism, neo-liberalism, and libertarianism), and the changing business practices (Bills of Exchange, rents and financial instruments of various kinds). The dominating explanation of financial crises has been market-related. Here, the author argues that managerial failures are an important contributor. He demonstrates the failure of management to act on early signals such as existential risk, strategic stress syndrome, and lack of proper oversight by top management. The author encourages a return to ethical principles for banks, suggesting that his ethical aspect should be at the core of the credit process of banks in the future. With its interdisciplinary approach, this book will be an important contribution to the discussion surrounding bank failures. It will interest any scholar looking at the origins of financial crises and will be particularly useful for post-graduate students of economic and financial history, banking, finance and accounting Bank failures / History Banks and banking / History https://www.taylorfrancis.com/books/9780429200489 Verlag URL des Erstveroeffentlichers Volltext |
spellingShingle | Jönsson, Sten A. 1940- A comparative history of bank failures from Medici to Barings Bank failures / History Banks and banking / History |
title | A comparative history of bank failures from Medici to Barings |
title_auth | A comparative history of bank failures from Medici to Barings |
title_exact_search | A comparative history of bank failures from Medici to Barings |
title_exact_search_txtP | A comparative history of bank failures from Medici to Barings |
title_full | A comparative history of bank failures from Medici to Barings Sten Jönsson |
title_fullStr | A comparative history of bank failures from Medici to Barings Sten Jönsson |
title_full_unstemmed | A comparative history of bank failures from Medici to Barings Sten Jönsson |
title_short | A comparative history of bank failures |
title_sort | a comparative history of bank failures from medici to barings |
title_sub | from Medici to Barings |
topic | Bank failures / History Banks and banking / History |
topic_facet | Bank failures / History Banks and banking / History |
url | https://www.taylorfrancis.com/books/9780429200489 |
work_keys_str_mv | AT jonssonstena acomparativehistoryofbankfailuresfrommedicitobarings |