A History of Interest Rates
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Geographical
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Historical
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Military
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Political
A History of Interest Rates
Authors
Sidney Homer and Richard Sylla
Published Date
Various editions, originally published in 1963
Page Count
Varies by edition (latest edition is typically around 700 pages)
Overview
“A History of Interest Rates” by Sidney Homer and Richard Sylla offers an exhaustive historical survey of interest rates from ancient times to the modern era. The book provides a detailed account of how interest rates have evolved over centuries, shaped by economic, political, and technological changes. It serves as a crucial resource for understanding the development of financial systems and the role of interest rates in economic history.
Key Themes
- Evolution of Interest Rates: Traces the history and development of interest rates across different civilizations and economic systems.
- Economic and Political Influences: Examines how economic conditions, political events, and financial innovations have influenced interest rate trends.
- Impact on Financial Markets and Institutions: Discusses the implications of interest rate changes on financial markets, banking, and monetary policy.
- Global Perspective: Provides a comprehensive global overview, including interest rate histories of major economies.
Historical Context
The book’s multiple editions reflect the changing landscape of global finance, with each edition updating the history of interest rates to include recent developments and trends.
Authors’ Background
Sidney Homer was a renowned bond market analyst, and Richard Sylla is a professor of economics and a financial historian. Their combined expertise offers a rich and authoritative perspective on the history of interest rates.
Impact and Legacy
“A History of Interest Rates” is widely regarded as a fundamental work for understanding the dynamics of interest rates and their historical impact. It is a key reference for economists, historians, and finance professionals.
Strengths and Weaknesses
Strengths: The book’s comprehensive scope, detailed research, and historical analysis make it an invaluable resource. Weaknesses: Its dense and detailed nature may be challenging for readers new to economic history or finance.
Who Should Read This?
Ideal for students and professionals in economics, finance, and history, as well as anyone interested in the historical context of interest rates and their role in the global economy.
