Walter Bagehot was an essayist and businessman who ran shipping and banking businesses. He was born in the ancient market town of Langport, Somerset, where the Walter Bagehot Town Garden bears his name.
He studied mathematics at University College, London.
In 1867 he wrote a book called "The English Constitution". In it he does not restrict himself to England but takes the opportunity to explore the differences between British and American systems.
It is regarded as fundamental to understanding the principles of constitutional monarchy (where the Sovereign is Head of State, but legislation lies with an elected Parliament). He divided the constitution into two parts, the "dignified" and the "efficient".
He also wrote a description of the money markets in "Lombard Street" (a reference to the bank which was founded in 1800 and collapsed in 1886 - its address was 65 Lombard Street). He uses the term in the same way we now refer to the US financial markets as "Wall Street".
His work is often quoted by central bankers.
He studied mathematics at University College, London.
In 1867 he wrote a book called "The English Constitution". In it he does not restrict himself to England but takes the opportunity to explore the differences between British and American systems.
It is regarded as fundamental to understanding the principles of constitutional monarchy (where the Sovereign is Head of State, but legislation lies with an elected Parliament). He divided the constitution into two parts, the "dignified" and the "efficient".
He also wrote a description of the money markets in "Lombard Street" (a reference to the bank which was founded in 1800 and collapsed in 1886 - its address was 65 Lombard Street). He uses the term in the same way we now refer to the US financial markets as "Wall Street".
His work is often quoted by central bankers.
