Lords of Finance: The Bankers Who Broke the World (Pulitzer Prize Winner)

Lords of Finance: The Bankers Who Broke the World (Pulitzer Prize Winner)

4.6
Kindle Store
2009
Bestseller Rankings
#5 in Depression History of the U.S. #7 in Business Ethics
#9 in Business Ethics
#72,102 in Kindle Store

About This Book

Summary

Argues the Great Depression was caused by decisions of central bankers from influential nations, exploring their backgrounds and the impact of the gold standard.

Key Insights

Level:
Generally considered a seminal work.
Concepts:
Great Depressioncentral bankersgold standard.
Skills:
Great Depressioncentral bankers.
Relevance:
Great Depressioncentral bankers.
Applications:
Direct application in understanding the Great Depression.

Description

Winner of the Pulitzer Prize “Erudite, entertaining macroeconomic history of the lead-up to the Great Depression as seen through the careers of the West’s principal bankers . .

Spellbinding, insightful and, perhaps most important, timely.” — Kirkus Reviews (starred) “There is terrific prescience to be found in [ Lords of Finance’s ] portrait of times past . . . [A] writer of great verve and erudition, [Ahamed] 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." — The New York Times 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 we continue to grapple with economic turmoil, 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