Definitions

from The American Heritage® Dictionary of the English Language, 4th Edition

  • Bagehot, Walter 1826-1877. British economist, social scientist, and journalist who wrote The English Constitution (1867), an analysis of the comparative powers of the branches of British government.

Etymologies

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Examples

  • It would permit, in Bagehot's phrase, the timely replacement of the pilot of the calm by the pilot of the storm.

    The Runaway Presidency

  • This view is very clearly expressed in Bagehot's admirable work on the British constitution in which he says

    The Place of the King in the British Constitution

  • But what it's doing, I think, is an illustration of what are sometimes called Bagehot's rules, and that's that in a financial crisis the lender of last resort should lend freely on good collateral, but they ought to do it at a penalty rate.

    CFR.org -

  • But "Bagehot," an anonymous columnist for The Economist, suggests a different interpretation:

    Obama's Vietnam

  • Recall Bagehot's advice: "The time for economy and for accumulation is before.

    Bernanke Speech on Liquidity

  • In 1873, the British financial journalist Walter Bagehot pointed out that the Bank of England kept the banking system functioning by serving as a lender of last resort in times of crisis.

    Robert Kuttner: Europe on the Brink

  • It is moving toward action that parallels what the 19th-century writer Walter Bagehot urged the authorities to do in a banking crisis: Let the troubled bank fail, and protect the banking system by making plentiful liquidity available to other banks.

    Three-Prong Approach to Euro-Zone Crisis

  • “What truly indicates excellent knowledge,” Walter Bagehot understood, “is the habit of constant, sudden, and almost unconscious allusion, which implies familiarity, for it can arise from that alone.”

    Intimate History

  • Last year, a reporter from the Economist returned to London from a European posting to take over its Bagehot political column and recalled his shock when he encountered the routine malice of British journalism.

    A chance to drag ourselves out of the gutter | Nick Cohen

  • As the Economist's political blogger Bagehot noted: "After her waffling, pompous colleagues, it was a relief today as she asked sharp, precise, coolly scornful questions."

    Louise Mensch: Chick-lit queen who shines at Westminster | Profile

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