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This accessible study investigates the role of banks in the finance of British industry, an issue which has long been the subject of dispute. From one perspective the history of British finance is one of success: from the late nineteenth century the City of London was the leading financial centre in the international economy. Yet there has been much disquiet over the level of support that banks have given to British Industry, particularly when Britain s economic hegemony was challenged at the end of the nineteenth century, and during the malaise which followed the First World War. Michael Collins weighs the conflicting arguments. Is there evidence of failure in the money markets? Has the estrangement of financial and industrial capital hindered Britain s economic development? He places these and other questions in historical context and provides a survey of recent literature on this contentious subject.
Sommario
Acknowledgements; 1. The nature of the problem; 2. Explanatory schema; 3. Industrial finance before 1870; 4. Banks and industry, 1870-1914; 5. City vs industry, 1870-1914; 6. The interwar period; 7. Summary; Appendix; Notes; Bibliography; Index.
Info autore
Michael Collins' poems have appeared in numerous journals and magazines, and he is also the author of the chapbooks How to Sing when People Cut off your Head and Leave it Floating in the Water and Harbor Mandala and the full-length collection Psalmandala.
He teaches creative and expository writing at New York University and the Hudson Valley Writers' Center and is the Director of Studies at Why There Are Words Press.
Riassunto
Despite the City of London's importance as a financial centre, there is much dispute over the level of support that banks have given to British Industry. Michael Collins' accessible study weighs the conflicting arguments, placing them in an historical context and providing a survey of literature on this contentious subject.
