Skip to main content

Ulster Covenant

Today is the centenary of the Ulster Covenant, the document signed by nearly 0.5 million people which opposed the plans for Home Rule in Ireland. The economics of Home Rule should be of interest to all students of Irish history. Notably, the opening sentence of the Ulster Covenant states that "Home Rule would be disastrous to the material well-being of Ulster as well as the whole of Ireland". This would make a great PhD topic: Would Home Rule have been disastrous for the economy?  Did the partition of Ireland affect the economic well-being of all of its citizens right up to the present day?  Was opposition to Home Rule motivated by money rather than politics or religion? 

There are at least two papers written by academics at Queen's which look at the economics of Home Rule.

1. A number of years ago, Charlie Hickson and I in an article published in the European Review of Economic History suggested that the fall of the Irish stock market in the years leading up to 1913 was partially due to investor concerns about the anti-big-business rhetoric of Home Rule supporters.

2. Graham Brownlow (along with Tim Bowman) has a really interesting paper on the economics of the armed and paramilitary resistance to Home Rule - click here for the paper.

     

Popular posts from this blog

The Failure of Herstatt Bank

As an undergraduate, I was taught about the failure of Herstatt Bank in 1974 and Herstatt risk. This bank was only the 35th largest bank in Germany at the time so why would anyone be interested in studying its failure? Herstatt failed because of its involvement in risky foreign exchange business. When it closed its doors on 26 June 1974, counterparty banks (mainly in New York) had not received dollars due to them because of time-zone differences - this is known as settlement risk. The cross-jurisdictional implications of its failure resulted in the Bank for International Settlements setting up the Basel Committee on Banking Supervision and Herstatt's failure was a key reason for the establishment of real-time gross settlements systems, which ensures that payments between two banks are executed in real time. The Bank of England's Ben Norman has an interesting post on Herstatt over at the Bank's new blog ( Bank Underground ). As well as giving an excellent overview of

Boom and Bust: A Global History of Financial Bubbles

Boom and Bust: A Global History of Financial Bubbles, co-authored with my colleague Will Quinn , is forthcoming in August. It is published by Cambridge University Press and is available for pre-order at Amazon , Barnes and Noble , Waterstones and Cambridge University Press . 

The Great Depression

Marginal Revolution University has a great video on the Great Depression.