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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I do love JK Galbraiths melodious writing style, his eloquence and euphhoria make you not want to stop reading. Dec 02, Robert Karl rated it it was amazing. My accountant husband urged me to read it after I failed to read another book of Galbraith’s–The Great Crash, I believe it was.

Oct 29, Will Bell rated it liked it Shelves: I don’t know everything about Mr.

Any doubters are perceived as attacking their very person. The anatomy of the bubble is often predictable. In this primer, the renowned economist John Kenneth Galbraith reviews the major speculative episodes of the last three centuries – from the 17th century tulip craze to the calamitous junk-bond follies of the s.

A Short History of Financial Euphoria

All financial innovation involves in one form or another, the creation of debt secured in greater or lesser adequacy by real assets. Read this for my history extension essay and the blatant doneness gradually ceases to be subtle toward the end and that was my favourite part. Sep 09, Ravi Abhyankar rated it really liked it.

At first there is some profitable opportunity that captures the mind of a group. The references to Mr.

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His style is so engaging it leaves you wanting more, but the book fairly skirts over most of the interesting episodes it chronicles, never really getting into Its not so much a bool, its an essay galbrwith bool form, but the blurb does confirm this. Fourth, when a crash comes, the explanation tends to be located in handy scapegoats e. Dec 09, Zhou Fang rated it it was amazing.

The review must be at least 50 characters long. Thank You for Being Late. First, collective memories of financial debacles tend to be very short; therefore, each new generation of financial “wizards” can effectively start over with a blank slate.

His The Great Crash of is an excellent bit of descriptive writing and this short book is another riff on its themes. Euphoria is inevitably followed by bust, disgrace, even exile or suicide. You can remove the unavailable item s now or we’ll automatically remove it at Checkout.

A Short History of Financial Euphoria by John Kenneth Galbraith

The President Is Missing. The book is as with most of his stuff, just too darn short, and its strange to say that as this is not a criticism often aimed at economics writers. Are the causes of economic events such as assets bubbles and busts endogenous – originating within the economic system, such as central bank action or new innovations – or exogenous – originating outside it, such as natural disasters?

When to Rob a Bank. Must read for anybody who invests, gambles or cares about history. Table of contents The 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; ; October redux; reprise. The meaning of leverage can be truly understood on reading this book. This is a short and sweet essay focusing on the cyclical nature of economics.

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A whirlwind tour of some booms and crashes and one economist’s take on the cause: You can read this item using any of the following Kobo apps and devices: Galbraith would agree with me here, but I think he would.

Aug 09, Robert Rigoni added it. Just a moment while we sign you in to your Goodreads account. Worth rereading periodically to remind oneself.

The Rise and Fall of D.

Galbraith in z sentence describes those people: From Tulipomania to the crash Galbraith shares the common themes of the various financial boom and bust cycles.

I would also add an abandonment of the idea of safety nets, both the political left version that includes government support for the vulnerable and the political right version that involves a deep caring for the people in our community.

Check out the top books of the year on our page Best Books of Aug 21, InvestingByTheBooks. Paperbackpages. He was also awarded the Order of Canada inand inthe Padma Histkry, India’s second highest civilian award, for strengthening ties between India and the USA. We appreciate your feedback. In the Canadian-born, Keynesian celebrity economist, serial author, academic enfant terrible and producer of timeless quotations – Ken Galbraith ga,braith his now classic The Great Crash of Thinking, Fast and Slow.