Skip to main content Accessibility help

The vanishing banker1

  • Marc Flandreau (a1)


This article explores the relation between financial crises and economic discourse, focusing on the record of foreign debt crises. I identify a curious migration of discourse across social groups. Discourse that was previously proffered by bankers is now part of the production of economic ‘science’. I argue that this migration can be interpreted as an attempt to manage ‘speech-liability’.



Hide All
Acemoglu, D. (2009). The crisis of 2008: structural lessons for and from economics. CEPR Policy Insight No. 28.
Akerlof, G. A. (1970). The market for ‘lemons’: quality uncertainty and the market mechanism. Quarterly Journal of Economics, 84(3), pp. 488500.
Brandeis, L. D. ([1913] 1933). Other People's Money and How Bankers Use It. New York: Jackett Library.
Carosso, V. P. (1970). Washington and Wall Street: the New Deal and investment bankers, 1933–1940. Business History Review, 44(4), pp. 425–45.
DeLong, B. (1991). Did J. P. Morgan's men add value? An economist's perspective on financial capitalism. In Temin, P. (ed.), Inside the Business Enterprise: Historical Perspectives on the Use of Information. Chicago: University of Chicago Press, pp. 205–36.
Diamond, D. W. (1989). Reputation acquisition in debt markets. Journal of Political Economy, 97(4), pp. 828–62.
Dickens, C. (1859). A Tale of Two Cities. London: Chapman and Hall.
Drummond Wolff, H. (1908). Rambling Recollections. London: Macmillan, 1908.
Flandreau, M. and Flores, J. (2009). Bonds and brands: foundations of sovereign debt markets 1820–1930. The Journal of Economic History, 69(3), pp. 646–84.
Flandreau, M. and Flores, J. (2012). Bondholders vs bondsellers: relationship banking and conditionality lending in the London market for government debt, 1815–1913. European Review of Economic History, forthcoming.
Flandreau, M., Flores, J., Gaillard, N. and Nieto-Parra, S. (2009). The end of gatekeeping: underwriters and the quality of sovereign debt markets, 1815–2007. In Reichlin, L. and West, K. (eds.), NBER International Seminar on Macroeconomics, vol. 6. Chicago: University of Chicago Press.
Flandreau, M., Gaillard, N. and Packer, F. (2011). To err is human: US rating agencies and the interwar foreign government debt crisis. European Review of Economic History, 15, pp. 495538.
Frydman, C. and Hilt, E. (2010). Predators or watchdogs? Bankers on corporate boards in the era of finance capitalism. Working paper.
Hannah, L. (2007). What did Morgan men really do? CIRJE-F-465 working paper, University of Tokyo.
Huertas, T. F. and Silverman, J. L. (1986). Charles E. Mitchell: scapegoat of the crash? Business History Review, 60(1), pp. 81103.
Jenks, L. H. (1927). The Migration of British Capital to 1875. London: Thomas Nelson.
Kroszner, R. and Rajan, R. (1994). Is the Glass-Steagall Act justified? A study of the US experience with universal banking before 1933. American Economic Review, 84(4), pp. 810–32.
Kuczinski, R. (1932). Bankers' Profits from German Loans. Washington: Brookings.
Morrow, D. W. (1927). Who buys foreign bonds? Foreign Affairs, January.
Riley, J. C. (1980). International Government Finance and the Amsterdam Capital Market, 1740–1815. Cambridge: Cambridge University Press.
Shapiro, C. (1983). Premiums for high quality products as returns to reputations. Quarterly Journal of Economics, 98(4), pp. 659–79.
Smith, A. (1776). An Inquiry into the Nature and Causes of the Wealth of Nations. London: Strahan and Cadell.
Suter, CH. (1992). Debt Cycles in the World-Economy: Foreign Loans, Financial Crises, and Debt Settlements, 1820–1990. Boulder: Westview.
Lamont's Papers: Thomas W. Lamont's Papers, Baker Library, Harvard University.
Select Committee (1875): Report from the Select Committee on Loans to Foreign States, together with the Proceedings of the Committee, Minutes of Evidence, Appendix and Index, Parliamentary Papers 1875, XI, Parliament, House of Commons. London.
US Senate Hearings (1932): Sale of Foreign Bonds or Securities in the United States, Hearings Before the Committee on Finance, US Senate, 72nd Congress. Washington, DC.


JEL classification

Related content

Powered by UNSILO

The vanishing banker1

  • Marc Flandreau (a1)


Full text views

Total number of HTML views: 0
Total number of PDF views: 0 *
Loading metrics...

Abstract views

Total abstract views: 0 *
Loading metrics...

* Views captured on Cambridge Core between <date>. This data will be updated every 24 hours.

Usage data cannot currently be displayed.