Description
Book SynopsisThe world-renowned economist offers dourly irreverent analyses of financial debacle from the tulip craze of the seventeenth century to the recent plague of junk bonds. —The Atlantic.With incomparable wisdom, skill, and wit, world-renowned economist John Kenneth Galbraith traces the history of the major speculative episodes in our economy over the last three centuries. Exposing the ways in which normally sane people display reckless behavior in pursuit of profit, Galbraith asserts that our notoriously short financial memory is what creates the conditions for market collapse. By recognizing these signs and understanding what causes them we can guard against future recessions and have a better hold on our country's (and our own) financial destiny.
Trade Review"Galbraith's long historical view is refreshing ... Easily read and enterraining." —
Washington Post Book WorldTable of ContentsThe speculative episode; the common denominators; the classic cases I - the tulipomania, John Law and the Banque Royale; The classic cases II - the bubble; the American tradition; 1929; October redux; reprise.
