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Lords of Finance The Bankers Who Broke the World (Paperback)

Author:  Liaquat Ahamed
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Learn more about Lords of Finance:

Format: Paperback
ISBN-10: 0143116800
ISBN-13: 9780143116806
Sku: 211824537
Publish Date: 12/29/2009
Dimensions:  (in Inches) 8H x 5.25L x 1.25T
Pages:  564
Age Range:  22 to UP
 
As another financial crisis makes headlines today, the year 1929 remains the benchmark for true economic mayhem. Ahamed lays the blame for the 1929 meltdown on a small number of central bankers--men as prominent in their time as Alan Greenspan is today.
From the Publisher:
"A magisterial work...You can't help thinking about the economic crisis we're living through now." --The New York Times Book Review || It is commonly believed that the Great Depression that began in 1929 resulted from a confluence of events beyond any one person's or government's control. In fact, as Liaquat Ahamed reveals, it was the decisions made by a small number of central bankers that were the primary cause of that economic meltdown, the effects of which set the stage for World War II and reverberated for decades. As yet another period of economic turmoil makes headlines today, Lords of Finance is a potent reminder of the enormous impact that the decisions of central bankers can have, their fallibility, and the terrible human consequences that can result when they are wrong. ||
Annotation:
THE LORDS OF FINANCE profiles the four powerful, often stealthy central bankers who restructured the post-World War I global economy: Montagu Collet Norman, Benjamin Strong, Hjalmar Schacht, and Émile Moreau. This engrossing historical account chronicles their impact, along with that of influential economist John Maynard Keynes, and unravels the events that led to the Great Depression. While offering a colorful view of the real-world cast of characters, Liaquat Ahamed, investment adviser and former World Bank economist, also accessibly outlines the overwhelming complexity of such a financial crisis and the sometimes well-intentioned decisions along the way. Winner of the 2009 Financial Times and Goldman Sachs Business Book of the Year Award and selected by the New York Times Book Review as one of the 10 Best Books of 2009.

Praise

"This is narrative history at its most vivid, an epic portrait of how the predecessors of Ben S. Bernanke, Jean-Claude Trichet, and Mervyn King helped shove economies into the abyss in 1929. The lessons to be gleaned are both spooky and reassuring, showing how today's dynamics both do and do not resemble what unfolded in that age of ocean liners and evening dress." - James Pressley 02/22/2009

"It's easy to be reminded, by all this, of more recent events. It's also easy to see history through the eyes of the present, and make people look stupid for not knowing what we know. Liaquat Ahamed has the imagination not to do that. While he makes clear the ways in which his protagonists were wrong, he doesn't judge them anachronistically. He shows just how hard it is to be right when one is confronted with new facts and unfamiliar developments.... [Ahamed's] book is informed by an awareness of how unprecedented events look at the time they are being lived through--an awareness that helps to make his book seem timely today." - John Lanchester 02/02/2009

"Mr. Ahamed, an investment manager who proves to be a writer of great verve and erudition, easily connects the dots between the economic crises that rocked the world during the years his book covers and the fiscal emergencies that beset us today." - Janet Maslin 01/14/2009

"[A] magisterial work....A grand, sweeping narrative of immense scope and power...." - Joe Nocera 02/15/2009

"Ahamed has a compelling ability to package...universal truths within complex financial explanations, such as his description of how the real question each country faced in the 1920s was whether to deflate their prices or devalue their currencies." - Ross Kerber 03/24/2009

Product Attributes

Product attributeeBooks:   Kobo
Product attributeBook Format:   Paperback
Product attributeMinimum Age:   18
Product attributeNumber of Pages:   0564
Product attributePublisher:   Penguin Books
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