Suez 1956: A European Intervention

This article does not analyse events in the Middle East. It is concerned with the structural background of the Suez Crisis. The Cold War bargain of 1949-50, and thus the Western bloc architecture, was challenged in 1956 and 1962-63. The Suez Crisis and the SKYBOLT Affair are classic examples of intra-bloc conflict. This article focuses on inter-allied conflict during the Suez Crisis. The crisis year 1956 witnessed a European challenge to the bipolar order of the Cold War. It is the hypothesis of this article that the mystique of the Suez Crisis unravels, if the events are interpreted as a clash of conflicting world views. The article attempts to enhance our understanding of the crisis by exploring the impact of the formation of a European core on the transatlantic pluralistic security community. The article will thus re-evaluate the architectural debate within the Western partial system. It is the aim to shed new light on the almost unexplored European foreign-policy co-operation within the Western European Union (WEU) in the crisis year 1956

Property rights and competing for the affections of Demos: The Impact of the 1867 Reform Act on stock prices

The 1867 Reform Act in Britain extended the electoral franchise to the skilled but propertyless urban working classes. Using stock market data and exploiting the fact that foreign and domestic equities traded simultaneously on the London market, this paper finds that investors in British firms reacted negatively to the passage of this Act. We suggest that this finding is consistent with investors foreseeing future alterations of property rights arising from the pressure that the large newly enfranchised group would bring to bear on government policy. We also suggest that our findings appear to be more consistent with the Tory political competition explanation for the Act rather than the Whig threat-of-revolution explanation.