"...[an] engaging new biography of Bagehot...In this very enjoyable book, Grant demonstrates that he has the measure of a fascinating-and great-Victorian." Financial Times
During the upheavals of 2007 9, the chairman of the Federal Reserve had the name of a Victorian icon on the tip of his tongue: Walter Bagehot. Banker, man of letters, inventor of the Treasury bill and author of Lombard Street, Bagehot prescribed the doctrines that decades later inspired the radical responses to the world's worst financial crises.
In James Grant's colourful and groundbreaking biography, Bagehot appears as both an ornament to his own age and a muse to our own. Brilliant and precocious, he was influential in political circles, making high- profile friends, including William Gladstone and enemies: Lord Overstone, Benjamin Disraeli. As an essayist on wide- ranging topics, he won the admiration of Matthew Arnold and Woodrow Wilson. He was also a misogynist, and while he opposed slavery, he misjudged Abraham Lincoln and the Civil War. As editor of the Economist, he offered astute commentary on the financial issues of his day, and his name lives on in an eponymous weekly column.
James Grant founded Grant's Interest Rate Observer, a financial markets journal, and authored The Forgotten Depression, which won the Hayek Prize. His writing has appeared in the Financial Times and the Wall Street Journal. He lives in Brooklyn, New York.