Lords of Finance

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Last edited by VacuumBot
July 29, 2012 | History

Lords of Finance

  • 4.00 ·
  • 1 Rating
  • 37 Want to read
  • 1 Currently reading
  • 5 Have read

With penetrating insights for today, this vital history of the world economic collapse of the late 1920s offers unforgettable portraits of the four men whose personal and professional actions as heads of their respective central banks changed the course of the twentieth centuryIt 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 taken by a small number of central bankers that were the primary cause of the economic meltdown, the effects of which set the stage for World War II and reverberated for decades.In Lords of Finance, we meet the neurotic and enigmatic Montagu Norman of the Bank of England, the xenophobic and suspicious Emile Moreau of the Banque de France, the arrogant yet brilliant Hjalmar Schacht of the Reichsbank, and Benjamin Strong of the Federal Reserve Bank of New York, whose facade of energy and drive masked a deeply wounded and overburdened man. After the First World War, these central bankers attempted to reconstruct the world of international finance. Despite their differences, they were united by a common fear—that the greatest threat to capitalism was inflation— and by a common vision that the solution was to turn back the clock and return the world to the gold standard.For a brief period in the mid-1920s they appeared to have succeeded. The world's currencies were stabilized and capital began flowing freely across the globe. But beneath the veneer of boom-town prosperity, cracks started to appear in the financial system. The gold standard that all had believed would provide an umbrella of stability proved to be a straitjacket, and the world economy began that terrible downward spiral known as the Great Depression.As yet another period of economic turmoil makes headlines today, the Great Depression and the year 1929 remain the benchmark for true financial mayhem. Offering a new understanding of the global nature of financial crises, Lords of Finance is a potent reminder of the enormous impact that the decisions of central bankers can have, of their fallibility, and of the terrible human consequences that can result when they are wrong.

Publish Date
Publisher
Penguin USA, Inc.
Language
English

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Previews available in: English

Edition Availability
Cover of: Lords of finance
Lords of finance: the bankers who broke the world
2009, Penguin Press
in English
Cover of: Lords of finance
Lords of finance: the bankers who broke the world
2009, Penguin Press
in English
Cover of: Lords of Finance
Lords of Finance
2009, Penguin USA, Inc.
Electronic resource in English
Cover of: Lords of finance
Lords of finance: the bankers who broke the world
2009, Penguin Press
in English
Cover of: Lords of Finance
Lords of Finance: The Bankers Who Broke the World
2009, Penguin
Paperback in English

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Book Details


Edition Notes

Published in
New York

The Physical Object

Format
Electronic resource

ID Numbers

Open Library
OL24247012M
ISBN 13
9781440697920, 9781440697968, 9781440697951
OverDrive
EB8DD8A7-1F6C-478D-8374-088527C84092

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marc_overdrive MARC record

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History

Download catalog record: RDF / JSON / OPDS | Wikipedia citation
July 29, 2012 Edited by VacuumBot Updated format 'electronic resource' to 'Electronic resource'
June 18, 2010 Edited by ImportBot Added new cover
June 16, 2010 Created by ImportBot Imported from marc_overdrive MARC record