The death blow to unlimited liability in Victorian Britain: The City of Glasgow failure

In 1878, one of Britain's largest banks, the City of Glasgow Bank, collapsed, leaving a huge deficit between its assets and liabilities. As this bank, similar to many other contemporary British banks, had unlimited liability, its failure was accompanied by the bankruptcy of the vast majority of its stockholders. It is generally believed that the collapse of this depository institution revealed the extent to which ownership in large joint-stock banks had been diffused to investors of very modest means. It is also believed that the failure resulted in bank shareholders dumping their shares unto the market. Our evidence, garnered from ownership records, trading data, and stock prices, offers no support for these widely held beliefs. © 2007 Elsevier Inc. All rights reserved.

City of Dreams? Belfast, planning and the ‘myth’ of development

The future of Belfast is found in its plans – beginning with 1945 planning proposals to the recently adopted Belfast Metropolitan Area Plan, these documents have aimed to encourage and channel urban development processes to secure collective outcomes that enhance the public interest. Central to this objective has been the idea of ‘development’ and in this paper we interrogate the representation of this concept in the urban discourse of Belfast. We seek to do this by first exploring how ‘development’ and associated concepts are articulated in key spatial policy documents and then contrast these with examples of some of the key physical, spatial outcomes of economic processes that have occurred in the last ten years. The paper will review the dominant trajectories of urban change in Belfast, consider their implications and relate these to the official goals and aspirations represented in planning strategies and regeneration visions for the city. In doing this we draw on the recent work of Marcuse (2015) to identify how ideas of ‘development’ and ‘growth’ have been used to anonymise, harmonize and homogenise the outcomes of these spatial processes. The paper will conclude by considering how Belfast’s urban discourse acts to suppresses alternative visions of the city and explores the potential consequences of this for the new governance arrangements for planning in Belfast.

Fashioning a city of culture: ‘life and place changing’ or ’12 month party’?

The current trend in public policy is to valorise culture as a tool for social, economic and political transformation. This paper offers a direct contribution to debates that seek to unpack and problematise cities of culture. We adopt a more circumspect approach towards some aspects of the anticipated transformative powers of culture, and in particular the tendency to fetishize the economics of culture. Our empiricism is grounded in a detailed study of Derry~Londonderry as the inaugural UK City of Culture in 2013. We question whether City of Culture was ‘life and place changing’ or a ’12 month party’, and reveal different interpretations of success. In our view there is more potential in viewing culture as a peace resource for overcoming divisions in a socially and culturally segregated city, rather than its ability to tackle entrenched economic problems. Moving beyond the specifics of the case study we also provide lessons for future cities of culture and more generalizable insights for the academic and policy literatures.