Calming the Storms

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The book reveals the significant impact of the Carry Trade on British financial crises from 1825 to 1866 and examines the subsequent improvements in the Bank of England's monetary policy. It highlights Britain's unique stability from 1866 to 1973, contrasting it with the resurgence of banking instability since the 1970s, particularly during the 2007-09 global financial crisis. By reassessing historical financial practices through the lens of the British Banking School, it offers valuable insights for economists, historians, and policymakers aiming to prevent future crises.