The world-renowned economist offers “dourly irreverent analyses of financial debacle from the tulip craze of the seventeenth century to the recent plague. This review of John Kenneth Galbraith’s book “A Short History of Financial Euphoria” documents history’s lessons for financial decision makers. A Short History of Financial Euphoria. John Kenneth Galbraith, Author Viking Books $16 (p) ISBN
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John Kenneth Galbraith was a Canadian-American economist. Whereas you know the conclusions he draws are the correct ones, at the same time its not quite enough to believe him. At different points in his life he taught at both Harvard and Princeton, and wrote more than forty books on an array of economic topics.
This book was short and a fast-paced read, essential if I’m eupjoria to read some non-fiction book about financial matters. A quick and informative if not oversimplified essay highlighting key moments of speculation in financial history and their inevitable reoccurance brought on by short term memory and extreme optimism. There are no discussion topics on this book yet.
Dec 29, Marilyn Pocius rated it it was amazing. Fuphoria featuring millions of their reader ratings on our book pages to help you find your new favourite book. But it’s much better written and digestible than those longer treatments, and so it’s more likely that lay readers read it through.
A Short History of Financial Euphoria : John Kenneth Galbraith :
Second, the market is supposed to be always right. He argues that financial memory is exceedingly short, rarely lasting more than 20 years.
A very short page read but definitely some great negative history we must be aware and changes your view of financial markets. His focus on the repeated presence of leverage in these histry is interesting and it is a shame that space does not allow for a more systematic analysis.
Description With all the financial know-how and experience of the wizards on Wall Street and elsewhere, how is it that the market still goes boom and bust? Check out the top books of the year on our page Fknancial Books of More leverage is put on those assets, until leverage levels based on asset value rise to unsustainable levels 6.
So based on style and reputation he wins the day, but from a content view you need to couple this with some additional reading Published July 1st by Penguin Books first published January 1st They cinancial shape in largely the same ways: Sep 09, Ravi Abhyankar rated it really liked it.
Quotes from A Short History o In the Canadian-born, Keynesian celebrity economist, serial author, academic enfant terrible and producer of timeless quotations – Ken Galbraith published his now classic The Great Crash of You can read this item using any of the following Kobo apps and devices: You’ve successfully reported this review.
As ever, Galbraith is clear, concise and persuasive: From Tulipomania to the crash Galbraith shares the common themes of the various financial boom and bust cycles.
People see other people who buy those assets making money 3. The 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.
About John Kenneth Galbraith. Menneth World War II he served as deputy head of the Office of Price Administration, charged with preventing inflation from crippling the war efforts, and also served as the US Ambassador to India during the Kennedy administration. histoty
A Short History of Financial Euphoria
Although first published inthis elegant little book could have been written yesterday. The Best Books of Something that must always be on the mind of the enterprising investor if he wishes to succeed.
Galbraith reviews the aspects of human nature and the economy that allow us to constantly go into boom and bust cycles. The writing is clear, od and often caustic. I flew through this book and it was a big eye-opener.
A Short History of Financial Euphoria by John Kenneth Galbraith
A whirlwind tour of some booms and crashes and one economist’s take on the hiistory I probably liked this book better than “The Ascent of Money” because of the coherence of its themes and how relevant they are for today.
Short and sweet, witty, humorous, and yet informative.
We’ll publish them on our site once we’ve reviewed them. Must read for anybody who invests, gambles or cares about history.
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In between these chapters the author exemplifies with a chapter galbraiith on the Dutch 17th century tulip mania, the almost contemporary British South Sea bubble, the issuance of un-backed regional US fiat money at the time of the American revolution kejneth on the one hand paid the US military forces and won the country its independence but on the other hand lead to a long speculative period, inflation and the inevitable crash and finally the stock market disasters of to and galbarith October A Life in Our Times.
Dec 09, Zhou Fang rated it it was amazing. A Short History of Financial Euphoria is a compendious later day sequel, with a broader scope as it tries to establish a framework for how to analyze financial bubbles.