1st Edition

The English Capital Market

By Frederick Lavington Copyright 1968
    308 Pages
    by Routledge

    308 Pages
    by Routledge

    First Published in 1968. If this book aimed at a descriptive account of the detailed phenomena of the Money Market, it would necessarily be concerned mainly with the manner in which the market was adjusting its operations to the special disturbances arising from the war, and would deal principally with such matters as the abolition of time dealings on the Stock Exchanges, the influence of public finance on monetary conditions and the prospects of a return to an effective gold standard. But that is not its object. Its main purpose is one not of description but of interpretation. It attempts to trace the nature of the economies which the market effects as part of the organization of production, and to express those economies in terms of economic welfare.

    PART I LEADING IDEAS I. INTRODUCTORY II. THE MARKET IN RELATION TO MONEY AND CAPITAL III. THE MARKET IN RELATION TO CREDIT IV. GENERAL VIEW OF THE MARKET PART II OUTLINE OF THE THEORY OF MONEY V. THE QUANTITY THEORY VI. THE DEMAND FOR MONEY VII. THE SUPPLY OF MONEY-ITS TECHNICAL EFFICIENCY VIII. Do. -ITS STABILITY OF VALUE IX. Do. -SOCIAL DISTURBANCES DUE TO INSTABILITY OF VALUE X. SUMMARY PART III THE TRANSPORT OF CAPITAL XI. THE FLOW OF RESOURCES INTO INVESTMENT XII. THE INFLUENCE OF THE MARKET ON THE SUPPLY OF CAPITAL-WAITING XIII. THE INFLUENCE OF THE MARKET ON THE SUPPLY OF CAPITAL-RISK XIV. Do. -RISK ARISING FROM IMPERFECT KNOWLEDGE. XV. Do. -RISK ARISING FROM THE IMMOBILITY OF INVESTED RESOURCES XVI. Do. -MARKETING. XVII. THE INFLUENCE OF THE MARKET ON THE DEMAND FOR CAPITAL XVIII. REVIEW OF MARKETING OPERATIONS PART IV INDIVIDUAL MARKETING ORGANIZATIONS XIX. THE BANKING SYSTEM-PRELIMINARY XX. Do. -THE TRANSPORT OF CAPITAL j ITS COLLECTION AND POOLING XXI. Do. -THE TRANSPORT OF CAPITAL ITS DISTRIBUTION XXII. Do. -THE PROVISION OF THE CHEQUE CURRENCY XXIII. Do. -THE VOLUME OF THE CURRENCY XXIV. Do. -THE ELASTICITY OF SUPPLY XXV. Do. -THE MACHINERY OF REGULATION XXVI. Do. -THE REGULATION OF THE CURRENCY XXVII. Do. -CONCLUSIONS XXVIII. THE MARKET FOR STOCK EXCHANGE SECURITIES-NEW SECURITIES XXIX. NEW SECURITIES (continued)-THE CHARACTERISTICS OF THE MARKET XXX. NEW SECURITIES (continued)-THE SALE OF HIGH-CLASS XXXI. Do. XXXII. Do. XXXIII. Do. SECURITIES -THE VOLUME OF INDUS[1]TRIAL SECURITIES -THE SALE OF INDUSTRIALS. Do. (continued) XXXIV. THE MARKET FOR OLD SECURITIES XXXV. THE LONDON STOCK EXCHANGE XXXVI. Do. (continued) XXXVII. SPECULATION ON THE LONDON STOCK EXCHANGE XXXVIII. THE DIRECT PRODUCT OF THE SPECULATOR XXXIX. THE SPECULATOR'S PROFIT XL. Do. (continued) XLI. THE INFLUENCE OF THE SPECULATOR ON PRICES XLII. OTHER INCIDENTAL EFFECTS, AND CONCLUSION XLIII. TRADE CREDITXLIV. CONCLUSION

    Biography

    Frederick Lavington Girdler's Lecturer in Economic at the Univeristy of Cambridge