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Introduction
Mike Buckle
and
John Thompson

6.1   Introduction With this chapter we begin our look at the main financial markets making up the UK financial system. We saw in chapter 1 that one of the primary roles of a financial system is to allocate saving to its most productive uses by bringing together lenders and borrowers in an efficient way. In chapter 2 we examined how financial

in The UK financial system (fifth edition)
Mike Buckle
and
John Thompson

12.1   Introduction Financial derivatives can be defined as instruments whose price is derived from an underlying financial security. The price of the derivative is linked to the price of the underlying asset and arbitrage maintains this link. This makes it possible to construct hedges using derivative contracts so that losses (gains) on the

in The UK financial system (fifth edition)
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Bankruptcy, insolvency, and medical charity
Alannah Tomkins

1 Financial hardship: bankruptcy, insolvency, and medical charity Debt is an unequivocal signal of career turbulence, yet very little is known about medical bankruptcy. This is partly determined by the limited data on occupational bankruptcy available in aggregate form. Indeed it is not even possible to calculate a simple total of bankrupts that occurred among all occupations in England and Wales in all years across the nineteenth century without multiple caveats.1 This is particularly ironic given the intense interest in financial solvency evinced throughout

in Medical misadventure in an age of professionalisation, 1780–1890
The City's Trojan Horse enters the Treasury
Aeron Davis

critical of what transpired, historians agree that free-market thinking came to trump all. I'm not so sure. As this chapter explains, what took place in the 1980s could be more accurately termed financialization than neoliberalism. 3 Much of the transformation was not initiated by free-flowing private enterprise but in the corridors of the Treasury. Many of the central figures of the Thatcher revolution came not out of business but from the City. They didn't read Friedman or Hayek at bedtime but

in Bankruptcy, bubbles and bailouts
Imogen Richards

Significant effort has been dedicated to defining the organisational identity and behaviour of IS since its emergence in 2013. Some have argued that IS is a religiously motivated terrorist group ( McCants 2015 ; Stern and Berger 2015 ), and others emphasise its continuity with the modern and technologised aspects of contemporary political movements ( Armstrong 2014 ). As highlighted in the Introduction, in light of their institutional arrangements and quasi-capitalist financial practices, IS and AQ for some resemble modern post-industrial corporations ( Gray

in Neoliberalism and neo-jihadism
Imogen Richards

Further to its utility for attracting recruits, justifying attacks, and generating public support for neo-jihadism, the political-economic propaganda of AQ and IS is significant in the extent to which it works coterminously with these organisations’ financial practices. Through their combined propaganda and finance, AQ and IS exist in a circular causative relationship with US-led counterterrorist and military activity ( Falleti and Lynch 2009 ). Here, risk-based approaches to counterterrorism in the GWOT, including in pre-emptive wars in the Middle East and

in Neoliberalism and neo-jihadism
Mike Buckle
and
John Thompson

2.1   Introduction We saw in chapter 1 that financial intermediation is one of the key functions of a financial system, connecting savers and borrowers and directing funds towards productive investments. In this chapter our primary aim is to describe the process of financial intermediation and in doing so we examine the arguments as to why we

in The UK financial system (fifth edition)
Mike Buckle
and
John Thompson

1.1   Introduction We begin our study of the UK financial system with an introduction to the role of a financial system in an economy. The financial system is at the heart of the economy, supplying finance, enabling transfers of payments and enabling agents to manage risk. In the UK economy, which has an international financial system, that system also provides many jobs

in The UK financial system (fifth edition)
Money, Commerce, Language, and the Horror of Modernity in ‘The Isle of Voices’
Robbie Goh

Money, not merely as subject in literature but also in its very form and function, exhibits qualities of spectral evanescence, fetishised power over the imagination, and the uncontrollable transgression of boundaries and limits, which closely parallel the concerns and anxieties of Gothic literature. Yet it is in the writings of economic theorists and commentators on market society like Adam Smith and Karl Marx that these Gothic anxieties about money are most clearly articulated. Stevensons short story ‘The Isle of Voices’, read in the context of his comments on money in his other writings, is one of the few fictional texts which uses these properties of money to create what might be called a ‘financial Gothic’ narrative, which nevertheless has insights and implications for the narratives of capitalist modernity in general.

Gothic Studies
Mike Buckle
and
John Thompson

16.1   Introduction The rules concerning the regulation of non-bank financial institutions have mainly originated from the European Union (EU), 1 in contrast with the regulation of banks, where the Bank for International Settlements (BIS) has been the driving force. Because the regulations are detailed and lengthy, we discuss only the main

in The UK financial system (fifth edition)