What Would Bagehot Say?

The video explores the historical British Banking School and its influence on modern finance. It discusses the intellectual tradition rooted in figures like Henry Thornton and John Maynard Keynes, and how this tradition persists in central banks and markets. The video also examines the shift in academic economics post-World War II, particularly in the U.S., towards a more technocratic and scientific approach, moving away from practical, institution-focused analysis.

Which of the following figures is associated with the British Banking School?

• Adam Smith

• Paul Samuelson

• Henry Thornton

• Milton Friedman

Which sector is mentioned as still engaging with the British Banking School's tradition?

• Academia

• Central banks

• Retail businesses

• Non-profit organizations

Who is mentioned as a modern figure in the tradition of the British Banking School?

• Milton Friedman

• Charles Goodhart

• John Maynard Keynes

• Ralph Hawtrey

What does the speaker identify as a reason for the British Banking School's decline in academia?

• Lack of funding

• Technological advancements

• Shift towards a technocratic policy discipline

• Increased focus on historical analysis

What change in the economics profession is noted after World War II?

• A focus on historical understanding

• A decline in policy advice

• A shift towards a scientific approach

• An increase in market-based analysis