Of Galbraith's classic examination of the 1929 financial collapse, the Atlantic Monthly said: "Economic writings are seldom notable for their entertainment value, but this book is. Galbraith's prose has grace and wit, and he distills a good deal of sardonic fun from the whopping errors of the nation's oracles and the wondrous antics of the ...
Of Galbraith's classic examination of the 1929 financial collapse, the Atlantic Monthly said: "Economic writings are seldom notable for their entertainment value, but this book is. Galbraith's prose has grace and wit, and he distills a good deal of sardonic fun from the whopping errors of the nation's oracles and the wondrous antics of the financial community." Now, with the stock market riding historic highs, the celebrated economist returns with new insights on the legacy of our past and the consequences of blind optimism and power plays within the financial community.
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This book may be about the crash of 1929 but Galbraith describes all the idiotic behaviours of 2008 too. The financial scams may change but the stupid behaviour of greedy fools does not.
Dec 21, 2009
Large Fortunes on Wall Street
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.
Jan 1, 2009
Used NY Times Stock Index to show how the market was changing by giving the # of points it was changing without indicating the % change or what the actual Index # was.
I gave up about 3/4 way through. I expected a little more detail of what was happening but got very little to keep me reading it
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