La Banque mutuelle: de l'utopie au marché des capitaux, le cas britannique. [The Mutual Bank: from Utopia to the Capital Market. The British Case]

Toporowski, Jan

Abstract

This paper examines the influence of the French social philosopher on banking as a means of stimulating capitalist enterprise. It argues that, while successful at an early stage of capitalism, Saint-Simonian mutual proved unable to moblise capital on the scale that later became possible with the development of capital markets. This is then illustrated with a comparison of building societies in Britain that remained mutual, with building societies that transformed themselves into banks. The latter are shown to be operating with wider margins, and therefore greater scope for raising capital.

Citation

Toporowski, J. (2002). La Banque mutuelle: de l'utopie au marché des capitaux, le cas britannique. [The Mutual Bank: from Utopia to the Capital Market. The British Case]. Revue d'économie financière, 67, 45-55. https://doi.org/10.3406/ecofi.2002.3572

• Journal Article Type: Article
• Publication Date: Sep 1, 2002
• Deposit Date: Jun 20, 2008
• Journal: Revue d'economie financiere
• Print ISSN: 0987-3368
• Electronic ISSN: 1777-5744
• Peer Reviewed: Peer Reviewed
• Volume: 67
• Pages: 45-55
• DOI: https://doi.org/10.3406/ecofi.2002.3572
• Publisher URL: https://www.persee.fr/doc/ecofi_0987-3368_2002_num_67_3_3572