Legislating Instability

Discover the intriguing dynamics of Scotland's banking system in Legislating Instability by Tyler Beck Goodspeed. Published by Harvard University Press in 2016, this thought-provoking hardback spans 224 pages and delves into the period from 1716 to 1845 when Scottish banks emerged as some of the most resilient institutions in Europe.

Goodspeed expertly navigates the paradox of how these banks thrived amid economic upheaval, effectively absorbing shocks that disrupted markets in London and beyond. He challenges the conventional wisdom of Adam Smith, who believed that regulations were essential for economic stability. This compelling analysis not only sheds light on historical banking practices but also offers valuable insights for understanding modern financial systems.

Perfect for historians, economists, and anyone interested in the evolution of banking, Legislating Instability is a must-read that will enrich your understanding of financial crises and the resilience of banking institutions.