For what it's worth, Bagehot divines a distinct improvement in the central relationship of British politics.
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But these banks have been required to offer collateral, as Bagehot would have wanted.
Astronomers frequently take a more light-hearted approach than chemists, as the example of Bagehot shows.
To Bagehot's mind, a third magnificent thing about the Scottish Parliament is its parochialism.
Mr Blair's idea of Britain is one that Walter Bagehot would understand and support.
Walter Bagehot's dictum needed updating when the crisis of confidence affected entire markets rather than single banks.
Whether this misconstruction is wilful or unwitting Bagehot cannot say, though other commentators have been less reticent.
On Europe Bagehot says that Mr Cook promises what Mr Rifkind dared not: to make Britain a leading player.
Bagehot is obviously just trying hard to stay ahead of a deepening curve.
They are then given a catalogue number (Bagehot's shows that it was the 2, 901st asteroid to be identified formally).
It is increasingly clear, I'm afraid, that the Cabinet has become in Bagehot's phrase a dignified part of the constitution ...
Bagehot advised the Bank of England to lend freely to illiquid but solvent banks against good collateral, at a penal rate.
Even the British Conservatives, who have wisely dropped their promise of a referendum on Lisbon, are slowly realising this (see Bagehot).
But Bagehot was writing long before today's sophisticated interbank market was shaped.
IR--Bagehot is right to point out that Mr Cook's mission statement has a lot in common with that of his predecessor, Malcolm Rifkind.
Bagehot contemplated playing agent provocateur, trawling Bournemouth's bars to see whether he could trap some befuddled ruddy-faced delegate into some horrific racial slur.
Bagehot had expected the Conservatives' instinct for self-preservation to silence this internal conversation for at least the final few weeks before polling day.
IR--Bagehot (May 17th) thought I looked ill at ease when Robin Cook, the new foreign secretary, presented his mission statement at the Foreign Office.
Bagehot recently met an intelligent Midlands car-dealer who believed that a Labour government planned his instant bankruptcy by importing German labour costs into Britain.
All Bagehot can report is that some of the Tories from whom you would least expect it are saying just what Mr Hague says.
Which, to Bagehot's mind, brings things back to poor Mr Lilley.
It is easy to see the marginalisation of Britain in the EU, a progressive breakdown of relations and, ultimately perhaps, Britain's departure (see Bagehot).
Walter Bagehot, the Victorian editor of The Economist after whom this column is named, made a distinction between the efficient and the dignified parts of government.
Bagehot spent time at Paddington last month with a more modest goal, to look at one successful school and try to discern what makes it different.
Mankind's mythologies have been ransacked so thoroughly that the need to identify each orbiting rock has resulted in such curiosities as Zappafrank, Lennon, McCartney and even Bagehot.
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When we blog about politics, we often talk about how politicians use and misuse language to their own ends, as in Bagehot here, or Charlemagne here.
Bagehot's vocabulary is certainly pellucid, in that the words mean exactly what he intends, unlike the mysterious utterances of adolescents or the various impenetrable professional jargons of today.
Bagehot cheered up Gladstone's ghost by telling him that almost all of the hereditary peers had at last been cleared out of the Lords by the present government.
Next to keeping its currency stable, the critical mission of a central bank is to stem financial panics, something Walter Bagehot wrote eloquently about more than 130 years ago.
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