Large Fortunes on Wall Street Dec 21, 2009
There's good reason why this is a classic. It's a glorious description of the past & it applies exactly to 10/08 as if it had been written in the last few months. I'm sure it will apply equally well for the next financial melt-down since no matter how smart we are in formulating defensive laws, the financial industry is even smarter about getting around them. Galbraith's sense of humor is terrific - he must have been wonderful in class. I couldn't help but laugh out loud at his decription Herbert Hoover's perfection the business meeting where no business is done. Anyone who want's to even remotely understand the present just has to read this little gem from the past.