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Bagehot |
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Bagehot Walter. 1826--77, English economist and journalist: editor of The Economist; author of The English Constitution (1867) Physics and Politics (1872), and Lombard Street (1873) How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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If Walter Bagehot was right in identifying conservatism with enjoyment, the ultimate impact of Mencken's work is surely conservative, since Mencken's writings convey powerfully and with gusto his rejection of envy and self-righteousness in favor of laughter and appreciation of the good things of life--including for him food, drink, music, friendship, and writing. In Physics and Politics, Walter Bagehot summed up the point when he observed that Dutton, 1910), Walter Bagehot famously recommends that in response to a financial panic, the central bank lend freely at a penalty rate (chap. |
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