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funded by interest payments on the part of the borrower, included army, ordinance, navy, and exchequer bills and was more costly for the treasury to repay than longer-term debt. Funded debt, long-term obligations funded through interest payments made by the borrower over the term of the loan, was primarily used to retire more costly, short-term debt. This helped to lengthen the term of the debt and reduce the government's debt service payments.
288:
and exchange rates, but also brought the Bank's prosperity under scrutiny and undermined the authority of Bank directors. In practice, though, the Bank's power remained intact so long as the government still relied on it for managing remittances and issuing debt during the war. The
Treasury defended the Bank by arguing that war necessitated a fall in exchange rates.
420:
the problems arose because of the decision to imprudently abandon the gold standard, he later experienced a shift in perspective which was evident in his writing. By the time he published "The Late Crisis in the Money Market
Impartially Considered", he began to think that the crash was not attributable to greed-driven bankers but to a diversified financial system.
387:
often in debt to banks and other creditors, and this practice left them vulnerable during the crisis. Like many businesses, many major publishing houses were forced to declare bankruptcy. Older publishers such as John Murray, Constable and
Ballantyne, Hurst and Robinson, and Taylor and Hessey suffered during the crisis, and some even collapsed entirely.
244:
retain some form of the tax, favouring a reduction rather than complete abolition. He feared that without the revenue, the government would have difficulty making its debt payments and supporting public credit. But he met with fierce opposition from the public, and in 1816 the income tax was again repealed.
410:, as it had with the Bank Restriction Act of 1797. This the government, worried by falling exchange rates and in an effort to maintain credibility, refused to do. But to help alleviate public panic, the government implemented a series of reforms which addressed the crisis as it was perceived at the time.
303:
While convertibility remained suspended, the Bank of
England, acting as a public bank, not a central bank, profited by issuing unbacked banknotes. The Bank also profited in its role as mediator during the wars. It worked with the Treasury as the agent mediating fiscal transfers home and abroad during
287:
This influential report argued that the central bank's credit policy influenced prices and exchange rates. It suggested that the central bank's discretion in credit policy should be limited by a gold standard. This not only sparked controversy between 1810 and 1811 on the link between monetary policy
269:
Although the banks were no longer constrained by the gold standard, several economists have argued that banks remained relatively prudent. However, record exports with the
Americas between 1808 and 1810 and relatively easy credit led to more speculation in foreign markets. The boom ended with a crash
243:
in 1798 as a temporary measure. The tax remained in place until 1802 when it was briefly repealed during the Peace of Amiens, before being reinstated in 1803 when hostilities resumed. After
Britain's victory at Battle of Waterloo in 1815 and Napoleon's defeat, Chancellor Nicholas Vansittart wanted to
226:
Britain generally funded its wars by issuing debt rather than raising taxes. This was a strategy
Britain had employed in funding its wars since the early 18th century. Britain financed its war expenditures by issuing a combination of unfunded and funded debt. Unfunded debt, short-term obligations not
402:
Many believed at the time that the crash, along with a series of subsequent, less serious crises, highlighted the need for improved regulation. The
Limited Liability Act of 1855 and the Companies Acts of 1856 and 1862 attempted to regulate the market better, with the effect of making investment more
390:
The setback of the established publishing houses allowed newer and less-reputable publishers to change the market. High end works were in declining demand, but the market for cheaper productions, pamphlets, and children's books was rapidly developing. Smaller publishers bought up the stocks of their
278:
Throughout the period, expansionary monetary policy and easy credit also caused
Britain's currency to depreciate and its exchange rate to fall. Concerned by this, the government appointed a committee to determine if convertibility should be resumed soon, regardless of whether the war was still going
230:
The country could pursue this strategy because creditors considered
Britain's stable parliamentary government reliable, which allowed it to issue a substantial quantity of debt. Britain followed this traditional funding method β funding 90 per cent of its expenditures through borrowing β until 1798,
208:
The soon-to-be emperor Napoleon made it known that he intended to invade Britain, amassing troops on the nearby shores of Calais and prompting Britain to invest in increasing its army and navy. The British government built additional defences along England's southern coast and strengthened old ones,
122:
In preparation for resuming convertibility, the Bank of England raised interest rates, amassed a stock of gold, and recalled notes from circulation. This caused deflation but allowed the Bank to resume full convertibility in 1821. And while economists and historians generally provide non-conflicting
118:
The crash occurred after a period of wartime finance in which Britain suspended the gold standard as a temporary wartime measure. Expansionary monetary policy proved profitable for the entire financial sector. But when the war ended, and the government moved to reinstate the gold standard and resume
437:
The crash caused many families significant hardship and left them confused about what had happened. Their sentiments fuelled the growth of Christian economics, which became the most popular economic theory of the 1830s. The theory presumed that human action, motivated by individual desire, entailed
419:
The gold standard would be extended to Scotland to help rein in reliance on fiat money. These reforms helped to centralize the financial industry and shaped the way that the public understood money, the economy, and culture. While writers of the time like James McCulloch had at first intimated that
386:
The crisis also had a direct effect on the publishing industry. While the crash did not reduce the number of publishers in Britain between 1825 and 1827, it did radically alter the nature of the industry. Publishers who followed the Romantic-era traditions of offering authors handsome advances were
89:
At the time, the Bank of England was not a central bank but a public, for-profit bank with three loyalties: its shareholders, the British government, and its correspondent commercial bankers. The Bank of England raised the lending rate to protect its investors, instead of lowering it to protect the
217:
Britain implemented some additional taxes in wartime, but they were unpopular, failed to raise as much as hoped, and ultimately thought to be unnecessary since Britain not only had good standing with creditors and could afford to finance war costs by issuing debt, but also had abandoned the gold
114:
A number of historical developments were at play in bringing Britain's panic of 1825 to fruition. Along with the industrial revolution came rapid developments in finance and banking. Also in the period leading up to the crisis, Britain remained heavily involved in the enormously expensive French
176:
One factor cited by many analysts is the rapid spread of country banking during the industrial revolution and Victorian period. Beginning in 1780, country banking spread rapidly across England and Wales. By 1810, there were over 800 licensed and unlicensed banks who both issued small notes and
167:
Larry Neal's notable analysis of the crash argues that neither speculation nor the Bank of England nor the country banks alone are responsible. Instead, he argues that all problems arising from the transition from a war to a peacetime economy can be traced back to the vast and increasing
363:
Britain's financial system developed rapidly between 1770 and the end of the Napoleonic Wars, coinciding with the country's industrialization. In 1770, only five stocks had been available on the London Exchange. But by 1824, investors could choose from 624 joint-stock companies.
310:
Country banks expanded rapidly across Britain between 1780 and 1810. After the Bank of England suspended convertibility and lifted restrictions against issuing small notes in 1797, small country banks could profit by issuing small denomination notes to replace circulating coins.
58:
Britain's financial system developed rapidly between 1770 and the end of the Napoleonic Wars, coinciding with the country's industrialization. In 1770, only five stocks had been available on the London Exchange. But by 1824, investors could choose from 624 joint-stock companies.
377:
The reinstatement of the gold standard entailed a contraction of the money supply and a tightening of bank lending which made it difficult for merchants to raise capital. Bankruptcies increased significantly during the remainder of 1825 and nearly doubled in 1826.
348:
Private London banks, their corresponding country banks, and their consumers in industries ranging from agriculture to trade and manufacturing, lacking information on these new financial products, found it difficult to cope with the resulting confusion.
159:
Alexander Dick emphasizes that the crisis was unique in that it was not solely caused by external events like war or speculation in foreign markets, although those certainly played a role. Instead, he maintains that the crisis stemmed from the
296:
Through these wartime finance policies β which emphasized expansionary monetary policy and debt issuances rather than relying solely on taxation β the entire British financial system prospered while the hostilities continued.
261:. This suspended the convertibility between gold and banknotes as a necessary wartime measure. In March the same year, the Bank of England also lifted a ban against issuing small notes, to enable expansionary monetary action.
270:
in the summer of 1810, bringing a series of commercial failures and merchant insolvencies. The commercial crisis quickly spread to the financial sector, as merchants dragged down bankers who had extended credit to them.
39:. The crisis was felt most acutely in Britain, where it led to the closure of twelve banks. It was also manifest in the markets of Europe, Latin America and the United States. An infusion of gold reserves from the
458:
maintains that there is no perfect solution to financial cycles. Rather, her work β along with many others of the period β seems to suggest that one should steel themselves for inevitable confusion and collapse.
1160:
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While the crisis is now thought to have been caused by the transition process between war and peacetime economies, it was β at the time β blamed primarily on weak small country bankers speculating unwisely.
703:
2728:
446:
The application of this doctrine of "atonement" led to the idea of the business cycle. Excess production will, it was believed, inevitably lead to higher prices and eventually β economic downturn.
728:
Huch, Ronald K. (1 March 1979). "Corn, Cash, Commerce: The Economic Policies of the Tory Governments 1815β1830. By Boyd Hilton. New York, Oxford University Press, 1977. Pp. xii + 338. $ 19.50".
332:
To compensate for the depletion of its own profitable wartime revenue streams, the Bank of England had to find ways to replace the revenue previously brought in through wartime bond issuances.
67:
Seventy banks failed. The current view puts much of the fault of the crash on the banks for not collecting quality information, for performing inadequate surveillance, and for not doing simple
123:
accounts of the events which lead up to the crash, a number of different arguments have been made over what the most important factors were, with varying weight assigned by different experts.
149:
However, later academics have maintained that the Bank was not ignorant, but angry over the government's effort to restrict its autonomy and limit its control over its level of liabilities.
1153:
55:
taken during transition from war to peace brought a surge of prosperity and speculative ventures. The stock market boom became a bubble and banks caught in the euphoria made risky loans.
43:
saved the Bank of England from collapse. The panic has been called the first modern economic crisis not attributable to an external event, such as a war, and so the start of modern
1146:
340:
London's capital markets responded to the retirement of high-yielding government bonds by producing what Larry Neal refers to as a "bewildering array" of new financial assets.
2064:
2069:
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alludes to the country's on and off gold standard in his "Review of Southey's Colloquies". He refers to the currency being "imprudently debased, and imprudently restored".
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but as the Napoleonic wars dragged on, Britain's massive expenditures rose to unprecedented levels. Britain was forced to adopt additional funding methods.
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Emerging from war and deprived of taxation revenue, the Treasury found itself struggling to service the massive government debt accumulated during war.
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London banks would be allowed to compete for government contracts and business, removing the monopoly the Bank had enjoyed during the Napoleonic Wars.
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in 1802, hostilities would resume again when Napoleon regained power in 1803. Great Britain would remain involved until the British victory at the
106:. Inaction by the Bank of England led to a systemic stoppage of the banking system, and was followed by widespread bankruptcies, and unemployment.
81:
Bank of England's actions of rapidly increasing the money supply, then rapidly tightening it, initiating bank runs and finally refusing to act as
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provided small workshops, mines, and other new industries with loans for working capital. Some scholars point out that without these banks, the
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The crisis of 1825, although it did shake public confidence, did not destroy the market but ultimately worked to strengthen and centralize it.
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former competitors at a discount and issued cheap editions. This led to a demand for cheap fiction and inspired the trend of serialization.
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The crash led to such a frenzy that London bankers and their clients called for the government to protect their credit by suspending
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on. This Bullion Report of 1810 became influential in monetary policy for its analysis of how bank policy influences exchange rates.
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Ease of issuance of banknotes from country banks led to unscrupulous partners investing in high-risk, high-return ventures
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written in 1870 but set in 1830, alludes to the crisis as well as the impact of the crash on the lives of individuals in
933:
Poovey, Mary (2002). "Writing about Finance in Victorian England: Disclosure and Secrecy in the Culture of Investment".
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Other analysts have emphasized not the war-to-peace transition but the role of British speculation, under expansionary
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from 1789 to 1815. By early 1793, Britain became involved. Though the countries did form an uneasy treaty in the
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997:"Fair Enterprise or Extravagant Speculation: Investment, Speculation, and Gambling in Victorian England"
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policy which exacerbated the troubles associated with the shift from a wartime to a peacetime economy.
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public. The self-interest of the Bank of England thereby caused additional failures. Although banker
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London's private banks and foreign merchants fleeing extortion expanded business within the city.
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Calming the Storms: The Carry Trade, the Banking School and British Financial Crises Since 1825.
704:"Crisis Chronicles: The British Export Bubble of 1810 and Pegged versus Floating Exchange Rates"
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The Treasury benefited from increased taxes, the income tax, and an expanded market for debt.
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Banking in Crisis: The Rise and Fall of British Banking Stability, 1800 to the Present
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630:"The Financial Crisis of 1825 and the Restructuring of the British Financial System"
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had been highly profitable for all sectors of the British financial system, and the
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To help with wartime bills, William Pitt the Younger implemented Britain's first
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would have likely been strangled by lack of capital before it could have begun.
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actions to be taken by a central bank in such a crisis, it was not until the
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483:, published almost a century later (1922), is centred on the Panic of 1825.
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Economica, New Series, Vol. 34, No. 133 (February 1967), pp. 80β83.
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of 1866 that the Bank of England would take action to prevent widespread
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1072:
757:
1411:
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135:, argued that it was the government and the Bank of England's severe
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standard in 1797, enabling it to issue additional un-backed notes.
103:
1111:
Till Time's Last Sand: A History of the Bank of England, 1694β2013
413:
Small banks would be replaced by branches of the Bank of England.
36:
818:
BRANCH: Britain, Representation and Nineteenth-Century History
839:"Timeline: The Revolutionary and Napoleonic Wars (1792β1815)"
702:
Narron, James; Skeie, David; Morgan, Don (5 September 2014).
146:
criticized the Bank's actions as the result of ignorance.
71:
on ventures. The usual list of causes of the crisis are:
879:
877:
875:
873:
184:
168:"informational uncertainties" in existing institutions.
916:"Vansittart, Nicholas, first Baron Bexley (1766-1851)"
304:
one of history's most expensive wars up to that time.
2436:
Post-Napoleonic Irish grain price and land use shocks
870:
507:
209:
but these military investments came at a high cost.
31:, arising in part out of speculative investments in
1078:
1069:A Historical Confusion in Bagehot's Lombard Street
701:
3577:
1085:Business cycles and depressions: an encyclopedia
1076:
1062:May/June 1998. St. Louis Federal Reserve Review.
1083:. In Glasner, David; Cooley, Thomas F. (eds.).
812:Dick, Alexander J. Felluga, Dino Franco (ed.).
252:
247:
860:"The impact of the Napoleonic Wars in Britain"
671:"The impact of the Napoleonic Wars in Britain"
343:
189:Europe remained embroiled in the far-reaching
133:Financial Reconstruction in England, 1815β1822
3564:List of stock market crashes and bear markets
2103:
1154:
814:""On the Financial Crisis, 1825β26β³ | BRANCH"
282:
891:. UK Government Web Archive. Archived from
2110:
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1161:
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3385:2015β2016 Chinese stock market turbulence
1043:Macaulay, Southey's Colloquies on Society
994:
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403:accessible to individuals and investors.
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643:(3), Federal Reserve Bank of St. Louis,
572:(3), Federal Reserve Bank of St. Louis,
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119:cash payments, the economy contracted.
3591:Economic history of the United Kingdom
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3290:Venezuelan banking crisis of 2009β2010
3060:South American economic crisis of 2002
2957:Black Wednesday (1992 Sterling crisis)
995:Itzkowitz, David C. (1 January 2002).
967:
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3297:2010β2014 Portuguese financial crisis
2773:Secondary banking crisis of 1973β1975
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1142:
688:
556:
441:
291:
257:In February 1797, Britain passed the
185:French Revolution and Napoleonic Wars
35:, including the imaginary country of
3586:Economic crises in the United States
3371:Russian financial crisis (2014β2016)
3224:2008β2011 Icelandic financial crisis
3217:2008β2009 Ukrainian financial crisis
3182:2000s U.S. housing market correction
3022:1998β2002 Argentine great depression
2117:
1135:Palgrave Macmillan. pp. 91β111.
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727:
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537:
314:
62:
3528:2023β2024 Egyptian financial crisis
3363:Puerto Rican government-debt crisis
3356:2014β2016 Brazilian economic crisis
2729:1963β1965 Indonesian hyperinflation
2632:Shanghai rubber stock market crisis
2321:Dutch Republic stock market crashes
913:
772:
590:
557:Bordo, Michael D. (MayβJune 1998),
115:Revolutionary and Napoleonic Wars.
13:
3334:2012β2013 Cypriot financial crisis
3238:2008β2014 Spanish financial crisis
3210:2008β2009 Russian financial crisis
3203:2008β2009 Belgian financial crisis
2898:1988β1992 Norwegian banking crisis
2393:British credit crisis of 1772β1773
1465:British credit crisis of 1772β1773
1052:
857:
456:Illustrations of Political Economy
335:
327:
264:
14:
3622:
3521:2023 United States banking crisis
3327:2011 Bangladesh share market scam
3015:1998β1999 Ecuador economic crisis
2979:Venezuelan banking crisis of 1994
2905:Japanese asset price bubble crash
2846:Souk Al-Manakh stock market crash
2596:Australian banking crisis of 1893
2400:Dutch Republic financial collapse
1178:Commonwealth of Nations countries
423:
131:William Ackworth's 1925 study on
3596:19th century in economic history
2378:Amsterdam banking crisis of 1763
968:Turner, John D. (10 July 2014).
811:
708:Federal Reserve Bank of New York
510:
212:
171:
3103:2007 Chinese stock bubble crash
2429:Danish state bankruptcy of 1813
1174:recessions in the United States
1087:. Garland Publishing. pp.
1035:
988:
961:
926:
907:
3484:Chinese property sector crisis
3392:2015β2016 stock market selloff
3320:August 2011 stock markets fall
3231:2008β2011 Irish banking crisis
2928:1990s Swedish financial crisis
2677:Weimar Republic hyperinflation
974:. Cambridge University Press.
831:
721:
663:
1:
3557:List of sovereign debt crises
3499:2022 Russian financial crisis
3196:2008 Latvian financial crisis
3189:U.S. bear market of 2007β2009
3067:Stock market downturn of 2002
3008:1998 Russian financial crisis
2861:1983 Israel bank stock crisis
628:Neal, Larry (MayβJune 1998),
468:
449:
394:
156:, in Latin American markets.
109:
94:described in 1802 the proper
53:expansionist monetary actions
16:Speculation crisis in England
3259:Greek government-debt crisis
3096:2004 Argentine energy crisis
3053:2001 Turkish economic crisis
2942:1990s Armenian energy crisis
2935:1990s Finnish banking crisis
2796:1976 British currency crisis
2766:1973β1974 stock market crash
259:Bank Restriction Act of 1797
253:Suspending the gold standard
248:Expansionary monetary policy
7:
3415:2017 Sri Lankan fuel crisis
3081:2003 Myanmar banking crisis
3074:2002 Uruguay banking crisis
2994:1997 Asian financial crisis
2921:1991 Indian economic crisis
2913:Rhode Island banking crisis
2883:Cameroonian economic crisis
2669:Early Soviet hyperinflation
2282:Crisis of the Third Century
1920:1997 Asian financial crisis
1553:Civil War-era United States
503:
372:
344:Private banks and customers
319:
126:
10:
3627:
3446:Sri Lankan economic crisis
3304:Energy crisis in Venezuela
3283:2009 Dubai debt standstill
3133:2007β2008 financial crisis
2788:Latin American debt crisis
2551:Paris Bourse crash of 1882
1696:PostβWorld War I recession
1516:Post-Napoleonic Depression
438:some degree of suffering.
356:
283:The Bullion Report of 1810
164:of the financial economy.
75:Latin American debt issues
3537:
3514:2022 stock market decline
3506:Pakistani economic crisis
3492:2021β2023 inflation surge
3438:Lebanese liquidity crisis
3407:Venezuelan hyperinflation
3399:Brexit stock market crash
3348:Venezuela economic crisis
3270:
3120:
3110:Zimbabwean hyperinflation
2820:
2738:
2709:
2693:Wall Street Crash of 1929
2656:
2533:2nd Industrial Revolution
2531:
2467:
2367:1st Industrial Revolution
2365:
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1934:
1870:
1815:
1769:
1684:
1606:2nd Industrial Revolution
1599:
1546:
1539:(1836β1838 and 1839β1843)
1455:1st Industrial Revolution
1453:
1422:
1223:Price-and-wage stickiness
1184:
1077:Haupert, Michael (1997).
1013:10.2979/VIC.2002.45.1.121
463:Thomas Babington Macaulay
3611:1825 in economic history
3175:Subprime mortgage crisis
2838:Brazilian hyperinflation
2810:Brazilian hyperinflation
2647:Financial crisis of 1914
2355:Mississippi bubble crash
1887:1990s United States boom
1675:Financial crisis of 1914
947:10.2979/VIC.2002.45.1.17
920:A Web of English History
885:"A Tax To Beat Napoleon"
531:
234:
3550:List of economic crises
3468:2020 stock market crash
3461:Financial market impact
3430:Turkish economic crisis
3045:9/11 stock market crash
3001:October 1997 mini-crash
2972:1994 bond market crisis
2964:Yugoslav hyperinflation
2875:Savings and loan crisis
2476:European potato failure
1702:Depression of 1920β1921
1634:Depression of 1882β1885
1548:Early Victorian Britain
1283:Real and nominal values
1131:Read, Charles. (2023).
730:Business History Review
221:
3543:List of banking crises
3312:Syrian economic crisis
3245:Blue Monday Crash 2009
2854:Chilean crisis of 1982
2685:ShΕwa financial crisis
2491:Highland Potato Famine
2347:South Sea bubble crash
2138:Commodity price shocks
1807:Recession of 1969β1970
1802:Recession of 1960β1961
1761:Recession of 1937β1938
473:A historical novel by
353:Rapid financialization
274:Falling exchange rates
241:Progressive income tax
2868:Black Saturday (1983)
2722:Kennedy Slide of 1962
2294:Commercial revolution
1925:Early 2000s recession
1892:Early 1990s recession
1844:Early 1980s recession
1424:Commercial revolution
1322:Nominal interest rate
889:The National Archives
368:Effects of the crisis
357:Further information:
179:Industrial Revolution
100:Overend Gurney crisis
96:lender of last resort
83:lender of last resort
3422:Ghana banking crisis
3252:European debt crisis
3037:Dot-com bubble crash
2949:Cuban Special Period
2408:Copper Panic of 1789
2313:The Great Debasement
2305:Great Bullion Famine
1491:Copper Panic of 1789
1117:. pp. 119β122.
454:Harriet Martineau's
27:that started in the
3378:2015 Nepal blockade
3088:2000s energy crisis
2986:Mexican peso crisis
2891:Black Monday (1987)
2751:1970s energy crisis
2711:PostβWWII expansion
2385:Bengal bubble crash
2180:Financial contagion
1827:1973β1975 recession
1771:PostβWWII expansion
1445:Great Frost of 1709
1273:Neutrality of money
1254:Classical dichotomy
1170:Economic expansions
895:on 17 February 2013
864:The British Library
675:The British Library
650:10.20955/r.80.53-76
578:10.20955/r.80.77-82
433:Christian economics
382:Publishing industry
2640:Panic of 1910β1911
2484:Great Irish Famine
2422:Panic of 1796β1797
2261:Stock market crash
2009:COVID-19 recession
1669:Panic of 1910β1911
1501:Panic of 1796β1797
1327:Real interest rate
1295:Economic expansion
1058:Bordo, Michael D.
442:The business cycle
292:Wartime prosperity
203:Battle of Waterloo
25:stock market crash
3573:
3572:
3454:COVID-19 pandemic
2339:Tulip mania crash
2330:Kipper und Wipper
2307:(c. 1400βc. 1500)
2085:
2084:
1796:Recession of 1958
1790:Recession of 1953
1784:Recession of 1949
1481:Thirteen Colonies
1288:Velocity of money
1218:Paradox of thrift
1067:Fetter, Frank W.
1001:Victorian Studies
935:Victorian Studies
498:Victorian England
475:Stanley J. Weyman
315:From war to peace
191:French Revolution
104:panic withdrawals
63:Bank improvements
3618:
3606:Financial crises
3566:
3559:
3552:
3545:
3530:
3523:
3516:
3509:
3501:
3494:
3487:
3477:
3470:
3463:
3456:
3449:
3441:
3433:
3425:
3417:
3410:
3402:
3394:
3387:
3380:
3373:
3366:
3358:
3351:
3343:
3336:
3329:
3322:
3315:
3307:
3299:
3292:
3285:
3261:
3254:
3247:
3240:
3233:
3226:
3219:
3212:
3205:
3198:
3191:
3184:
3177:
3170:
3163:
3156:
3149:
3142:
3135:
3113:
3105:
3098:
3091:
3083:
3076:
3069:
3062:
3055:
3048:
3040:
3032:
3024:
3017:
3010:
3003:
2996:
2989:
2981:
2974:
2967:
2959:
2952:
2944:
2937:
2930:
2923:
2916:
2908:
2900:
2893:
2886:
2878:
2870:
2863:
2856:
2849:
2841:
2827:Great Regression
2822:Great Moderation
2813:
2805:
2798:
2791:
2783:
2775:
2768:
2761:
2754:
2731:
2724:
2702:
2695:
2688:
2680:
2672:
2649:
2642:
2635:
2627:
2620:
2613:
2606:
2598:
2591:
2584:
2576:
2568:
2560:
2553:
2546:
2524:
2516:
2509:
2502:
2493:
2486:
2479:
2460:
2453:
2446:
2439:
2431:
2424:
2417:
2410:
2403:
2395:
2388:
2380:
2358:
2350:
2342:
2334:
2324:
2316:
2308:
2285:
2263:
2256:
2249:
2240:
2233:
2226:
2219:
2212:
2210:Liquidity crisis
2205:
2198:
2189:
2187:Social contagion
2182:
2175:
2168:
2161:
2154:
2147:
2140:
2133:
2119:Financial crises
2112:
2105:
2098:
2089:
2088:
1877:Great Regression
1872:Great Moderation
1718:Great Depression
1707:Roaring Twenties
1228:Underconsumption
1198:Effective demand
1189:Aggregate demand
1163:
1156:
1149:
1140:
1139:
1128:
1102:
1082:
1047:
1046:
1039:
1033:
1032:
992:
986:
985:
965:
959:
958:
930:
924:
923:
911:
905:
904:
902:
900:
881:
868:
867:
855:
846:
845:
843:
835:
829:
828:
826:
824:
809:
770:
769:
725:
719:
718:
716:
714:
699:
686:
685:
683:
681:
667:
661:
660:
659:
657:
652:
634:
625:
588:
587:
586:
584:
563:
554:
526:Great Depression
520:
515:
514:
513:
359:Financialization
142:Economists like
41:Banque de France
3626:
3625:
3621:
3620:
3619:
3617:
3616:
3615:
3601:1825 in England
3576:
3575:
3574:
3569:
3562:
3555:
3548:
3541:
3533:
3526:
3519:
3512:
3504:
3497:
3490:
3482:
3473:
3466:
3459:
3452:
3444:
3436:
3428:
3420:
3413:
3405:
3397:
3390:
3383:
3376:
3369:
3361:
3354:
3346:
3339:
3332:
3325:
3318:
3310:
3302:
3295:
3288:
3281:
3274:
3272:Information Age
3266:
3257:
3250:
3243:
3236:
3229:
3222:
3215:
3208:
3201:
3194:
3187:
3180:
3173:
3166:
3159:
3152:
3145:
3138:
3131:
3124:
3122:Great Recession
3116:
3108:
3101:
3094:
3086:
3079:
3072:
3065:
3058:
3051:
3043:
3035:
3027:
3020:
3013:
3006:
2999:
2992:
2984:
2977:
2970:
2962:
2955:
2947:
2940:
2933:
2926:
2919:
2911:
2903:
2896:
2889:
2881:
2873:
2866:
2859:
2852:
2844:
2836:
2829:
2825:
2816:
2808:
2803:1979 oil crisis
2801:
2794:
2786:
2778:
2771:
2764:
2759:1973 oil crisis
2757:
2749:
2742:
2740:Great Inflation
2734:
2727:
2720:
2713:
2705:
2698:
2691:
2683:
2675:
2667:
2660:
2658:Interwar period
2652:
2645:
2638:
2630:
2623:
2616:
2609:
2601:
2594:
2587:
2579:
2571:
2563:
2556:
2549:
2542:
2535:
2527:
2519:
2512:
2505:
2498:
2489:
2482:
2474:
2463:
2456:
2449:
2442:
2434:
2427:
2420:
2413:
2406:
2398:
2391:
2383:
2376:
2369:
2361:
2353:
2345:
2337:
2327:
2319:
2311:
2303:
2296:
2288:
2280:
2266:
2259:
2252:
2245:
2236:
2229:
2222:
2215:
2208:
2201:
2194:
2185:
2178:
2171:
2164:
2159:Currency crisis
2157:
2150:
2143:
2136:
2129:
2121:
2116:
2086:
2081:
1946:Great Recession
1938:
1936:Information Age
1930:
1879:
1875:
1866:
1819:
1817:Great Inflation
1811:
1773:
1765:
1688:
1686:Interwar period
1680:
1616:Long Depression
1608:
1604:
1595:
1555:
1551:
1542:
1457:
1449:
1426:
1418:
1383:U.S. recessions
1378:U.K. recessions
1310:U.S. expansions
1180:
1167:
1125:
1107:Kynaston, David
1099:
1080:"Panic of 1825"
1055:
1053:Further reading
1050:
1041:
1040:
1036:
993:
989:
982:
966:
962:
931:
927:
914:William, Carr.
912:
908:
898:
896:
883:
882:
871:
856:
849:
841:
837:
836:
832:
822:
820:
810:
773:
742:10.2307/3114710
726:
722:
712:
710:
700:
689:
679:
677:
669:
668:
664:
655:
653:
632:
626:
591:
582:
580:
561:
555:
538:
534:
516:
511:
509:
506:
480:Ovington's Bank
471:
452:
444:
435:
426:
397:
384:
375:
370:
361:
355:
346:
338:
336:Capital markets
330:
328:Bank of England
322:
317:
294:
285:
276:
267:
265:Foreign markets
255:
250:
237:
224:
215:
199:Peace of Amiens
195:Napoleonic Wars
187:
174:
162:diversification
154:monetary policy
129:
112:
85:until too late.
65:
49:Napoleonic Wars
45:economic cycles
29:Bank of England
17:
12:
11:
5:
3624:
3614:
3613:
3608:
3603:
3598:
3593:
3588:
3571:
3570:
3568:
3567:
3560:
3553:
3546:
3538:
3535:
3534:
3532:
3531:
3524:
3517:
3510:
3508:(2022βpresent)
3502:
3495:
3488:
3486:(2020βpresent)
3480:
3479:
3478:
3471:
3464:
3450:
3448:(2019βpresent)
3442:
3440:(2019βpresent)
3434:
3432:(2018βpresent)
3426:
3418:
3411:
3403:
3395:
3388:
3381:
3374:
3367:
3359:
3352:
3350:(2013βpresent)
3344:
3337:
3330:
3323:
3316:
3314:(2011βpresent)
3308:
3306:(2010βpresent)
3300:
3293:
3286:
3278:
3276:
3275:(2009βpresent)
3268:
3267:
3265:
3264:
3263:
3262:
3255:
3248:
3241:
3234:
3227:
3220:
3213:
3206:
3199:
3192:
3185:
3178:
3171:
3164:
3157:
3150:
3143:
3140:September 2008
3128:
3126:
3118:
3117:
3115:
3114:
3112:(2007βpresent)
3106:
3099:
3092:
3084:
3077:
3070:
3063:
3056:
3049:
3041:
3033:
3025:
3018:
3011:
3004:
2997:
2990:
2982:
2975:
2968:
2960:
2953:
2945:
2938:
2931:
2924:
2917:
2909:
2901:
2894:
2887:
2879:
2871:
2864:
2857:
2850:
2842:
2833:
2831:
2818:
2817:
2815:
2814:
2806:
2799:
2792:
2784:
2776:
2769:
2762:
2755:
2746:
2744:
2736:
2735:
2733:
2732:
2725:
2717:
2715:
2707:
2706:
2704:
2703:
2696:
2689:
2681:
2673:
2664:
2662:
2654:
2653:
2651:
2650:
2643:
2636:
2628:
2621:
2614:
2607:
2599:
2592:
2585:
2577:
2569:
2561:
2554:
2547:
2539:
2537:
2529:
2528:
2526:
2525:
2517:
2510:
2503:
2496:
2495:
2494:
2487:
2471:
2469:
2465:
2464:
2462:
2461:
2454:
2447:
2440:
2432:
2425:
2418:
2411:
2404:
2402:(c. 1780β1795)
2396:
2389:
2381:
2373:
2371:
2363:
2362:
2360:
2359:
2351:
2343:
2335:
2325:
2323:(c. 1600β1760)
2317:
2309:
2300:
2298:
2290:
2289:
2287:
2286:
2277:
2275:
2268:
2267:
2265:
2264:
2257:
2250:
2243:
2242:
2241:
2234:
2227:
2220:
2206:
2203:Hyperinflation
2199:
2192:
2191:
2190:
2176:
2169:
2162:
2155:
2148:
2141:
2134:
2126:
2123:
2122:
2115:
2114:
2107:
2100:
2092:
2083:
2082:
2080:
2079:
2078:
2077:
2072:
2067:
2065:United Kingdom
2062:
2057:
2052:
2047:
2042:
2037:
2032:
2027:
2022:
2017:
2006:
2005:
2004:
1999:
1997:United Kingdom
1994:
1989:
1984:
1979:
1974:
1969:
1964:
1959:
1954:
1942:
1940:
1939:(2007βpresent)
1932:
1931:
1929:
1928:
1922:
1917:
1916:
1915:
1910:
1908:United Kingdom
1905:
1900:
1889:
1883:
1881:
1868:
1867:
1865:
1864:
1863:
1862:
1857:
1855:United Kingdom
1852:
1841:
1840:
1839:
1834:
1832:United Kingdom
1823:
1821:
1813:
1812:
1810:
1809:
1804:
1799:
1793:
1787:
1781:
1777:
1775:
1767:
1766:
1764:
1763:
1758:
1757:
1756:
1751:
1749:United Kingdom
1746:
1741:
1736:
1731:
1726:
1715:
1712:
1709:
1704:
1699:
1692:
1690:
1682:
1681:
1679:
1678:
1672:
1666:
1660:
1654:
1651:
1645:
1639:
1636:
1631:
1630:
1629:
1624:
1622:United Kingdom
1612:
1610:
1597:
1596:
1594:
1593:
1587:
1581:
1578:
1572:
1569:
1563:
1559:
1557:
1544:
1543:
1541:
1540:
1534:
1531:
1528:
1522:
1519:
1513:
1510:
1507:
1504:
1498:
1488:
1485:
1484:
1483:
1478:
1473:
1461:
1459:
1451:
1450:
1448:
1447:
1442:
1437:
1430:
1428:
1420:
1419:
1417:
1416:
1415:
1414:
1404:
1403:
1402:
1397:
1387:
1386:
1385:
1380:
1375:
1370:
1365:
1360:
1355:
1350:
1340:
1339:
1338:
1329:
1324:
1314:
1313:
1312:
1307:
1302:
1292:
1291:
1290:
1285:
1280:
1275:
1270:
1261:
1256:
1251:
1237:
1235:Business cycle
1232:
1231:
1230:
1225:
1220:
1215:
1213:Overproduction
1210:
1205:
1200:
1185:
1182:
1181:
1166:
1165:
1158:
1151:
1143:
1137:
1136:
1129:
1124:978-1408868560
1123:
1103:
1097:
1074:
1065:
1054:
1051:
1049:
1048:
1034:
987:
980:
960:
925:
906:
869:
858:Mather, Ruth.
847:
830:
771:
736:(1): 121β122.
720:
687:
662:
589:
535:
533:
530:
529:
528:
522:
521:
505:
502:
470:
467:
451:
448:
443:
440:
434:
431:
425:
424:Public opinion
422:
408:convertibility
396:
393:
383:
380:
374:
371:
369:
366:
354:
351:
345:
342:
337:
334:
329:
326:
321:
318:
316:
313:
293:
290:
284:
281:
275:
272:
266:
263:
254:
251:
249:
246:
236:
233:
223:
220:
214:
211:
186:
183:
173:
170:
128:
125:
111:
108:
92:Henry Thornton
87:
86:
79:
76:
64:
61:
15:
9:
6:
4:
3:
2:
3623:
3612:
3609:
3607:
3604:
3602:
3599:
3597:
3594:
3592:
3589:
3587:
3584:
3583:
3581:
3565:
3561:
3558:
3554:
3551:
3547:
3544:
3540:
3539:
3536:
3529:
3525:
3522:
3518:
3515:
3511:
3507:
3503:
3500:
3496:
3493:
3489:
3485:
3481:
3476:
3472:
3469:
3465:
3462:
3458:
3457:
3455:
3451:
3447:
3443:
3439:
3435:
3431:
3427:
3423:
3419:
3416:
3412:
3408:
3404:
3400:
3396:
3393:
3389:
3386:
3382:
3379:
3375:
3372:
3368:
3364:
3360:
3357:
3353:
3349:
3345:
3342:
3338:
3335:
3331:
3328:
3324:
3321:
3317:
3313:
3309:
3305:
3301:
3298:
3294:
3291:
3287:
3284:
3280:
3279:
3277:
3273:
3269:
3260:
3256:
3253:
3249:
3246:
3242:
3239:
3235:
3232:
3228:
3225:
3221:
3218:
3214:
3211:
3207:
3204:
3200:
3197:
3193:
3190:
3186:
3183:
3179:
3176:
3172:
3169:
3165:
3162:
3161:December 2008
3158:
3155:
3154:November 2008
3151:
3148:
3144:
3141:
3137:
3136:
3134:
3130:
3129:
3127:
3123:
3119:
3111:
3107:
3104:
3100:
3097:
3093:
3089:
3085:
3082:
3078:
3075:
3071:
3068:
3064:
3061:
3057:
3054:
3050:
3046:
3042:
3038:
3034:
3030:
3026:
3023:
3019:
3016:
3012:
3009:
3005:
3002:
2998:
2995:
2991:
2987:
2983:
2980:
2976:
2973:
2969:
2965:
2961:
2958:
2954:
2950:
2946:
2943:
2939:
2936:
2932:
2929:
2925:
2922:
2918:
2914:
2910:
2906:
2902:
2899:
2895:
2892:
2888:
2884:
2880:
2876:
2872:
2869:
2865:
2862:
2858:
2855:
2851:
2847:
2843:
2839:
2835:
2834:
2832:
2828:
2823:
2819:
2811:
2807:
2804:
2800:
2797:
2793:
2789:
2785:
2781:
2777:
2774:
2770:
2767:
2763:
2760:
2756:
2752:
2748:
2747:
2745:
2741:
2737:
2730:
2726:
2723:
2719:
2718:
2716:
2712:
2708:
2701:
2700:Panic of 1930
2697:
2694:
2690:
2686:
2682:
2678:
2674:
2670:
2666:
2665:
2663:
2659:
2655:
2648:
2644:
2641:
2637:
2633:
2629:
2626:
2625:Panic of 1907
2622:
2619:
2618:Panic of 1901
2615:
2612:
2611:Panic of 1896
2608:
2604:
2600:
2597:
2593:
2590:
2589:Panic of 1893
2586:
2582:
2578:
2574:
2573:Baring crisis
2570:
2566:
2565:Arendal crash
2562:
2559:
2558:Panic of 1884
2555:
2552:
2548:
2545:
2544:Panic of 1873
2541:
2540:
2538:
2534:
2530:
2522:
2518:
2515:
2514:Panic of 1866
2511:
2508:
2507:Panic of 1857
2504:
2501:
2500:Panic of 1847
2497:
2492:
2488:
2485:
2481:
2480:
2477:
2473:
2472:
2470:
2466:
2459:
2458:Panic of 1837
2455:
2452:
2451:Panic of 1825
2448:
2445:
2444:Panic of 1819
2441:
2437:
2433:
2430:
2426:
2423:
2419:
2416:
2415:Panic of 1792
2412:
2409:
2405:
2401:
2397:
2394:
2390:
2386:
2382:
2379:
2375:
2374:
2372:
2368:
2364:
2356:
2352:
2348:
2344:
2340:
2336:
2332:
2331:
2326:
2322:
2318:
2314:
2310:
2306:
2302:
2301:
2299:
2295:
2291:
2283:
2279:
2278:
2276:
2274:
2269:
2262:
2258:
2255:
2254:Social crisis
2251:
2248:
2247:Minsky moment
2244:
2239:
2235:
2232:
2228:
2225:
2221:
2218:
2214:
2213:
2211:
2207:
2204:
2200:
2197:
2193:
2188:
2184:
2183:
2181:
2177:
2174:
2173:Energy crisis
2170:
2167:
2163:
2160:
2156:
2153:
2149:
2146:
2145:Credit crunch
2142:
2139:
2135:
2132:
2128:
2127:
2124:
2120:
2113:
2108:
2106:
2101:
2099:
2094:
2093:
2090:
2076:
2073:
2071:
2070:United States
2068:
2066:
2063:
2061:
2058:
2056:
2053:
2051:
2048:
2046:
2043:
2041:
2038:
2036:
2033:
2031:
2028:
2026:
2023:
2021:
2018:
2016:
2012:
2011:
2010:
2007:
2003:
2002:United States
2000:
1998:
1995:
1993:
1990:
1988:
1985:
1983:
1980:
1978:
1975:
1973:
1970:
1968:
1965:
1963:
1960:
1958:
1955:
1953:
1949:
1948:
1947:
1944:
1943:
1941:
1937:
1933:
1926:
1923:
1921:
1918:
1914:
1913:United States
1911:
1909:
1906:
1904:
1901:
1899:
1895:
1894:
1893:
1890:
1888:
1885:
1884:
1882:
1878:
1873:
1869:
1861:
1860:United States
1858:
1856:
1853:
1851:
1847:
1846:
1845:
1842:
1838:
1837:United States
1835:
1833:
1830:
1829:
1828:
1825:
1824:
1822:
1818:
1814:
1808:
1805:
1803:
1800:
1797:
1794:
1791:
1788:
1785:
1782:
1779:
1778:
1776:
1772:
1768:
1762:
1759:
1755:
1754:United States
1752:
1750:
1747:
1745:
1742:
1740:
1737:
1735:
1732:
1730:
1727:
1725:
1721:
1720:
1719:
1716:
1713:
1710:
1708:
1705:
1703:
1700:
1697:
1694:
1693:
1691:
1687:
1683:
1676:
1673:
1670:
1667:
1664:
1663:Panic of 1907
1661:
1658:
1657:Panic of 1901
1655:
1652:
1649:
1648:Panic of 1893
1646:
1643:
1642:Baring crisis
1640:
1637:
1635:
1632:
1628:
1627:United States
1625:
1623:
1619:
1618:
1617:
1614:
1613:
1611:
1607:
1602:
1598:
1591:
1588:
1585:
1584:Panic of 1866
1582:
1579:
1576:
1575:Panic of 1857
1573:
1570:
1567:
1566:Panic of 1847
1564:
1561:
1560:
1558:
1554:
1549:
1545:
1538:
1537:Panic of 1837
1535:
1532:
1529:
1526:
1525:Panic of 1825
1523:
1520:
1517:
1514:
1511:
1508:
1505:
1502:
1499:
1496:
1495:Panic of 1792
1492:
1489:
1486:
1482:
1479:
1477:
1474:
1472:
1468:
1467:
1466:
1463:
1462:
1460:
1456:
1452:
1446:
1443:
1441:
1440:Slump of 1706
1438:
1435:
1432:
1431:
1429:
1425:
1421:
1413:
1410:
1409:
1408:
1405:
1401:
1398:
1396:
1393:
1392:
1391:
1388:
1384:
1381:
1379:
1376:
1374:
1371:
1369:
1366:
1364:
1361:
1359:
1356:
1354:
1351:
1349:
1348:Balance sheet
1346:
1345:
1344:
1341:
1337:
1333:
1330:
1328:
1325:
1323:
1320:
1319:
1318:
1317:Interest rate
1315:
1311:
1308:
1306:
1303:
1301:
1298:
1297:
1296:
1293:
1289:
1286:
1284:
1281:
1279:
1276:
1274:
1271:
1269:
1265:
1262:
1260:
1257:
1255:
1252:
1250:
1247:
1246:
1245:
1241:
1238:
1236:
1233:
1229:
1226:
1224:
1221:
1219:
1216:
1214:
1211:
1209:
1206:
1204:
1201:
1199:
1196:
1195:
1194:
1190:
1187:
1186:
1183:
1179:
1175:
1171:
1164:
1159:
1157:
1152:
1150:
1145:
1144:
1141:
1134:
1130:
1126:
1120:
1116:
1112:
1108:
1104:
1100:
1098:0-8240-0944-4
1094:
1090:
1086:
1081:
1075:
1073:
1070:
1066:
1064:
1061:
1057:
1056:
1044:
1038:
1030:
1026:
1022:
1018:
1014:
1010:
1007:(1): 121β47.
1006:
1002:
998:
991:
983:
981:9781139992336
977:
973:
972:
964:
956:
952:
948:
944:
940:
936:
929:
921:
917:
910:
894:
890:
886:
880:
878:
876:
874:
865:
861:
854:
852:
840:
834:
819:
815:
808:
806:
804:
802:
800:
798:
796:
794:
792:
790:
788:
786:
784:
782:
780:
778:
776:
767:
763:
759:
755:
751:
747:
743:
739:
735:
731:
724:
709:
705:
698:
696:
694:
692:
676:
672:
666:
651:
646:
642:
638:
631:
624:
622:
620:
618:
616:
614:
612:
610:
608:
606:
604:
602:
600:
598:
596:
594:
579:
575:
571:
567:
560:
553:
551:
549:
547:
545:
543:
541:
536:
527:
524:
523:
519:
508:
501:
499:
495:
493:
488:
484:
482:
481:
476:
466:
464:
460:
457:
447:
439:
430:
421:
417:
414:
411:
409:
404:
400:
392:
388:
379:
365:
360:
350:
341:
333:
325:
312:
308:
305:
301:
298:
289:
280:
271:
262:
260:
245:
242:
232:
228:
219:
213:Financing war
210:
206:
204:
200:
196:
192:
182:
180:
172:Country banks
169:
165:
163:
157:
155:
150:
147:
145:
144:David Ricardo
140:
138:
134:
124:
120:
116:
107:
105:
101:
97:
93:
84:
80:
77:
74:
73:
72:
70:
69:due diligence
60:
56:
54:
50:
46:
42:
38:
34:
33:Latin America
30:
26:
22:
21:Panic of 1825
3147:October 2008
3029:Samba effect
2885:(1987β2000s)
2780:Steel crisis
2603:Black Monday
2581:Encilhamento
2521:Black Friday
2450:
2328:
2284:(235β284 CE)
2152:Credit cycle
1987:South Africa
1744:South Africa
1590:Black Friday
1524:
1407:Unemployment
1264:Money supply
1259:Disinflation
1203:General glut
1132:
1113:. New York:
1110:
1084:
1068:
1059:
1042:
1037:
1004:
1000:
990:
970:
963:
938:
934:
928:
919:
909:
897:. Retrieved
893:the original
888:
863:
833:
821:. Retrieved
817:
733:
729:
723:
711:. Retrieved
707:
678:. Retrieved
674:
665:
654:, retrieved
640:
636:
581:, retrieved
569:
565:
559:"Commentary"
518:Banks portal
490:
487:George Eliot
485:
478:
472:
461:
455:
453:
445:
436:
427:
418:
415:
412:
405:
401:
398:
389:
385:
376:
362:
347:
339:
331:
323:
309:
306:
302:
299:
295:
286:
277:
268:
256:
238:
229:
225:
216:
207:
188:
175:
166:
158:
151:
148:
141:
137:deflationary
132:
130:
121:
117:
113:
88:
66:
57:
20:
18:
3424:(2017β2018)
3409:(2016β2022)
3365:(2014β2022)
3125:(2007β2009)
3090:(2003β2008)
3039:(2000β2004)
2988:(1994β1996)
2966:(1992β1994)
2951:(1991β2000)
2915:(1990β1992)
2907:(1990β1992)
2877:(1986β1995)
2840:(1982β1994)
2830:(1982β2007)
2812:(1980β1982)
2790:(1975β1982)
2782:(1973β1982)
2753:(1973β1980)
2743:(1973β1982)
2714:(1945β1973)
2679:(1921β1923)
2671:(1917β1924)
2661:(1918β1939)
2583:(1890β1893)
2536:(1870β1914)
2478:(1845β1856)
2438:(1815β1816)
2387:(1769β1784)
2370:(1760β1840)
2333:(1621β1623)
2315:(1544β1551)
2297:(1000β1760)
2196:Flash crash
2166:Debt crisis
2055:New Zealand
2013:2020β2022;
1977:New Zealand
1950:2007β2009;
1896:1990β1991;
1880:(1982β2007)
1848:1980β1982;
1820:(1973β1982)
1798:(1957β1958)
1792:(1953β1954)
1786:(1948β1949)
1774:(1945β1973)
1739:New Zealand
1722:1929β1939;
1698:(1918β1919)
1689:(1918β1939)
1671:(1910β1912)
1665:(1907β1908)
1659:(1902β1904)
1650:(1893β1897)
1644:(1890β1891)
1620:1873β1879;
1609:(1870β1914)
1592:(1869β1870)
1586:(1865β1867)
1577:(1857β1858)
1568:(1847β1848)
1556:(1840β1870)
1527:(1825β1826)
1518:(1815β1821)
1503:(1796β1799)
1497:(1789β1793)
1469:1772β1774;
1458:(1760β1840)
1436:(1430β1490)
1434:Great Slump
1427:(1000β1760)
1373:Stagflation
1332:Yield curve
1278:Price level
492:Middlemarch
3580:Categories
2217:Accounting
2020:Bangladesh
1957:Bangladesh
1601:Gilded Age
1353:Depression
1305:Stagnation
1115:Bloomsbury
1060:Commentary
899:6 December
823:7 December
713:6 December
680:7 December
469:In fiction
450:Literature
395:Regulation
110:Background
3475:Recession
2468:1840β1870
2060:Singapore
2015:Australia
1992:Sri Lanka
1952:Australia
1898:Australia
1724:Australia
1714:1926β1927
1711:1923β1924
1677:(1913β14)
1653:1899β1900
1509:1807β1810
1506:1802β1804
1487:1785β1788
1412:Sahm rule
1343:Recession
1244:Inflation
1240:Deflation
1029:144846842
1021:1527-2052
955:145134212
941:: 17β41.
766:155337086
750:2044-768X
489:'s novel
205:in 1815.
2131:Bank run
2045:Malaysia
2030:Botswana
1982:Pakistan
1972:Malaysia
1476:Scotland
1336:Inverted
1300:Recovery
1109:(2017).
504:See also
373:Business
320:Treasury
127:Theories
2231:Funding
2224:Capital
2050:Namibia
1638:1887β88
1580:1860β61
1571:1853β54
1562:1845β46
1533:1833β34
1530:1828β29
1521:1822β23
1471:England
1363:Rolling
1249:Chronic
758:3114710
656:20 June
583:20 June
3401:(2016)
3047:(2001)
3031:(1999)
2848:(1982)
2687:(1927)
2634:(1910)
2605:(1894)
2575:(1890)
2567:(1886)
2523:(1869)
2357:(1720)
2349:(1720)
2341:(1637)
2238:Market
2075:Zambia
2035:Canada
2025:Belize
1962:Canada
1927:(2001)
1903:Canada
1850:Canada
1729:Canada
1400:Supply
1395:Demand
1368:Shapes
1358:Global
1268:demand
1193:Supply
1121:
1095:
1027:
1019:
978:
953:
764:
756:
748:
637:Review
566:Review
47:. The
37:Poyais
23:was a
2040:India
1967:India
1734:India
1390:Shock
1208:Model
1091:β13.
1025:S2CID
951:S2CID
842:(PDF)
762:S2CID
754:JSTOR
633:(PDF)
562:(PDF)
532:Notes
235:Taxes
3168:2009
2273:1000
2271:Pre-
1780:1945
1512:1812
1176:and
1172:and
1119:ISBN
1093:ISBN
1017:ISSN
976:ISBN
901:2015
825:2015
746:ISSN
715:2015
682:2015
658:2012
585:2012
222:Debt
193:and
19:The
1089:511
1009:doi
943:doi
738:doi
645:doi
574:doi
3582::
1023:.
1015:.
1005:45
1003:.
999:.
949:.
939:45
937:.
918:.
887:.
872:^
862:.
850:^
816:.
774:^
760:.
752:.
744:.
734:53
732:.
706:.
690:^
673:.
641:80
639:,
635:,
592:^
570:80
568:,
564:,
539:^
500:.
477:,
2824:/
2111:e
2104:t
2097:v
1874:/
1603:/
1550:/
1493:/
1334:/
1266:/
1242:/
1191:/
1162:e
1155:t
1148:v
1127:.
1101:.
1045:.
1031:.
1011::
984:.
957:.
945::
922:.
903:.
866:.
844:.
827:.
768:.
740::
717:.
684:.
647::
576::
494:,
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.