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Author : Garet Garrett
Publisher : Ludwig von Mises Institute
Page : 192 pages
File Size : 51,9 Mb
Release : 1932
Category : Credit
ISBN : 9781610164832
"Most of the matter in this book has appeared in the Saturday Evening Post during the last twelve months."--Author's note. June 1, 1932.
Author : Garet Garrett
Publisher : Mockingbird Press
Page : 142 pages
File Size : 40,9 Mb
Release : 2022-06-13
Category : Electronic
ISBN : 1684930839
A Bubble That Broke the World is a collection of articles by American journalist and author Garet Garrett. The work seeks to answer the question: "What truly caused the stock market crash of 1929, and the ensuing depression?" Garet Garrett (1878-1954) began his journalism career at age 20, writing for the Cleveland Recorder in Chicago. Soon he was reporting on the McKinley administration from Washington, D.C. for the Washington Times. In 1900, he moved to New York where he would eventually write for the New York Sun, New York Times, Wall Street Journal, New York Evening Post, and Saturday Evening Post. Rather than simply report dry facts, as most other business reporters did at the time, Garrett was unique for the way he brought life to these events. He infused his pieces with drama and personality, making his non-fiction and later fiction works so popular. Through his books and his novels, it was clear that Garrett was a proponent of the free market. His novel Harangue: The Trees Said to the Bramble Come Reign Over Us depicts a failed socialist experiment and decries the tendency of the wealthy to fund the socialism that will be their downfall. In 1932, Garrett published A Bubble That Broke the World, his explanation for the stock market crash of 1929 and the depression that followed-still gripping the country at the time of the book's release. The book is a collection of seven articles originally published in the Saturday Evening Post. Edited and compiled into one work, the articles are included in reverse order from when they were originally published. Garrett argues that the crash of '29 was caused primarily by the American government's policy of over-issuing credit to foreign countries during and after World War I. In this contemporary account, written while the effects of the Great Depression were still being felt, Garrett explains that it is not capitalism that caused the trouble, but issuing credit to foreign powers that used it for non-wealth-building activities like public works and supporting inflated currencies. To make matters worse, a great deal of the credit issued went to Germany, which had been decimated by the war. Germany borrowed to pay its exorbitant debts to the rest of the European nations. And the European powers used that money to repay their debts to the United States. In effect, the American Treasury was repaying itself. Private debt followed, with investors clamoring to buy guaranteed foreign government bonds. With so much credit issued to European countries both publicly and privately, investment in domestic growth dwindled. And with so little money invested in wealth building and manufacture, a collapse was inevitable. Garrett's opinion held that a market correction was needed, and that an unfettered free market was the best tool to make that correction. This was a far cry from the accepted wisdom of President Franklin D. Roosevelt, whose New Deal relied on public works and financial reforms to encourage economic growth. A Bubble That Broke the World is a fascinating contemporary account of the economic crisis of the 1930s. Modern-day scholarship about that era focuses heavily on the New Deal, but is less vocal about the other viewpoints at the time. By studying the writing of Garet Garrett, we get a helpful reminder that history is more complicated than neat retellings would imply. Unflinchingly steadfast in what he believed, Garrett would today be called a libertarian. He believed that free markets and minimal government intervention were the solution to the problems of the 1930s, and he would believe the same today.
Author : Garrett
Publisher : Unknown
Page : 128 pages
File Size : 49,6 Mb
Release : 2007-03
Category : Electronic
ISBN : 1610160843
Author : Robert Brenner
Publisher : Verso Books
Page : 304 pages
File Size : 43,7 Mb
Release : 2020-05-05
Category : Business & Economics
ISBN : 9781789609134
A sustained period of significant growth in the US, however, seemed to save the day against all the odds. So impressive was the surface appearance of this rescue mission that all manner of commentators proclaimed-once again-that a 'new economy' or 'new paradigm' of unlimited and harmonious growth had been forged. Today, as recession looms, the babble about Internet start-ups is exposed as vapid. Yet the pundits are no nearer an understanding of how or why the boom turned into a bubble, or why the bubble has burst. In this crisp and forensic book, Robert Brenner demonstrates that the boom was always a fragile phenomenon-buoyed up by absurd levels of debt and stock-market overvaluation-which never broke free from the fundamental malady of overcapacity and overproduction which continues to afflict the global economy. Carefully dismantling the myths and hype that surround the US boom in terms of profitability, investment, and productivity, Brenner restores the properly international context to the process. He portrays the 'zero-sum' character of the American success, which presupposed the relative weakness of its main German and Japanese competitors: a strategy that has laid huge obstacles in the path of a 'soft landing' to end the current phase of growth. A substantial new Postscript provides and up-to-date analysis of the Bush economic debacle-the crisis of manufacturing, the telecom bust, the record twin deficits, plummeting employment, and the real estate bubble.
Author : Jeff VanderMeer,Ann Vandermeer
Publisher : Vintage
Page : 1218 pages
File Size : 51,5 Mb
Release : 2016-07-12
Category : Fiction
ISBN : 9781101910092
Quite possibly the greatest science fiction collection of all time—past, present, and future! What if life was neverending? What if you could change your body to adapt to an alien ecology? What if the pope were a robot? Spanning galaxies and millennia, this must-have anthology showcases classic contributions from H. G. Wells, Arthur C. Clarke, Octavia E. Butler, and Kurt Vonnegut, alongside a century of the eccentrics, rebels, and visionaries who have inspired generations of readers. Within its pages, you’ll find beloved worlds of space opera, hard SF, cyberpunk, the New Wave, and more. Learn about the secret history of science fiction, from titans of literature who also wrote SF to less well-known authors from more than twenty-five countries, some never before translated into English. In The Big Book of Science Fiction, literary power couple Ann and Jeff VanderMeer transport readers from Mars to Mechanopolis, planet Earth to parts unknown. Immerse yourself in the genre that predicted electric cars, space tourism, and smartphones. Sit back, buckle up, and dial in the coordinates, as this stellar anthology has got worlds within worlds. Including: · Legendary tales from Isaac Asimov and Ursula K. Le Guin · An unearthed sci-fi story from W. E. B. Du Bois · The first publication of the work of cybernetic visionary David R. Bunch in twenty years · A rare and brilliant novella by Chinese international sensation Cixin Liu Plus: · Aliens! · Space battles! · Robots! · Technology gone wrong! · Technology gone right!
Author : Liaquat Ahamed
Publisher : Random House
Page : 578 pages
File Size : 44,8 Mb
Release : 2010
Category : Bankers
ISBN : 9780099493082
THIS HAS HAPPENED BEFORE. The current financial crisis has only one parallel: the Wall Street Crash of 1929 and subsequent Great Depression of the 1930s, which crippled the future of an entire generation and set the stage for the horrors of the Second World War. Yet the economic meltdown could have been avoided, had it not been for the decisions taken by a small number of central bankers. In Lords of Finance, we meet these men, the four bankers who truly broke the world: the enigmatic Norman Montagu of the bank of England, Benjamin Strong of the NY Federal Reserve, the arrogant yet brilliant Hjalmar Schacht of the Reichsbanlk and the xenophobic Emile Moreau of the Banque de France. Their names were lost to history, their lives and actions forgotten, until now. Liaquat Ahamed tells their story in vivid and gripping detail, in a timely and arresting reminder that individuals - their ambitions, limitations and human nature - lie at the very heart of global catastrophe.
Author : William Quinn,John D. Turner
Publisher : Cambridge University Press
Page : 297 pages
File Size : 42,6 Mb
Release : 2020-08-06
Category : Business & Economics
ISBN : 9781108421256
Why do stock and housing markets sometimes experience amazing booms followed by massive busts and why is this happening more and more frequently? Boom and Bust reveals why bubbles happen, and why some bubbles have catastrophic economic, social and political consequences, whilst others have actually benefited society.
Author : John Kenneth Galbraith
Publisher : Unknown
Page : 248 pages
File Size : 47,6 Mb
Release : 1961
Category : Depressions
ISBN : STANFORD:36105041737680
John Kenneth Galbraith's classic study of the Wall Street Crash of 1929.
Author : Margaret Mahy
Publisher : Frances Lincoln Children's Books
Page : 39 pages
File Size : 55,6 Mb
Release : 2020-03-31
Category : Bubbles
ISBN : 9780711254022
A hilarious rhyming romp from Margaret Mahy and Polly Dunbar. With a poetic text, a fun and funny story, and bright artwork, this is a perfect read aloud for story time.
Author : Vicky Ward
Publisher : John Wiley & Sons
Page : 278 pages
File Size : 44,5 Mb
Release : 2014-10-27
Category : Business & Economics
ISBN : 9781118295311
Inside the world of the real Great Gatsby of New York real estate Harry Macklowe is one of the most notorious wheelers and dealers of the real estate world, and Liar's Ball is the story of the gamblers and thieves who populate his world. Watch as Harry makes the gutsy bid for midtown Manhattan's famous GM building and put almost no money down, landing the billion-dollar transaction that made him the poster child for New York's real estate royalty. Listen in on the secret conversations, back-door deals, and blackmail that put Macklowe and his cronies on top—and set them up for an enormous fall. Vanity Fair contributing editor Vicky Ward skillfully paints the often scandalous picture of the giants who owned the New York skyline until their empires came crumbling down in the 2008 financial crisis. Based on more than 200 interviews with real estate moguls like Donald Trump, William Zeckendorf, Mort Zuckerman, and David Simon, Liar's Ball is the never-before-told story of the egomaniacal elites of New York City. Read about: The epic rise and fall of one of the richest American real estate barons Outlandish greed and cravings for power, attention, and love Relationships built and destroyed by vanity and gossip The bursting of the real estate bubble and its aftermath This is no fiction—this is a real life tale of extravagance, ambition, and power. Harry Macklowe ruthlessly clawed his way to the top with the help of his loyal followers, each grubbing for a piece of the real estate pie. Liar's Ball reveals their secrets and tells the tale of business as usual for this group—lying, backstabbing, and moving in for the kill when things look patchy. From the bestselling author of The Devil's Casino comes an expos??? on the real estate elite that you'll hardly believe.
Author : Christopher Knowlton
Publisher : Simon & Schuster
Page : 432 pages
File Size : 47,6 Mb
Release : 2021-01-12
Category : History
ISBN : 9781982128388
Christopher Knowlton, author of Cattle Kingdom and former Fortune writer, takes an in-depth look at the spectacular Florida land boom of the 1920s and shows how it led directly to the Great Depression. The 1920s in Florida was a time of incredible excess, immense wealth, and precipitous collapse. The decade there produced the largest human migration in American history, far exceeding the settlement of the West, as millions flocked to the grand hotels and the new cities that rose rapidly from the teeming wetlands. The boom spawned a new subdivision civilization—and the most egregious large-scale assault on the environment in the name of “progress.” Nowhere was the glitz and froth of the Roaring Twenties more excessive than in Florida. Here was Vegas before there was a Vegas: gambling was condoned and so was drinking, since prohibition was not enforced. Tycoons, crooks, and celebrities arrived en masse to promote or exploit this new and dazzling American frontier in the sunshine. Yet, the import and deep impact of these historical events have never been explored thoroughly until now. In Bubble in the Sun Christopher Knowlton examines the grand artistic and entrepreneurial visions behind Coral Gables, Boca Raton, Miami Beach, and other storied sites, as well as the darker side of the frenzy. For while giant fortunes were being made and lost and the nightlife raged more raucously than anywhere else, the pure beauty of the Everglades suffered wanton ruination and the workers, mostly black, who built and maintained the boom, endured grievous abuses. Knowlton breathes dynamic life into the forces that made and wrecked Florida during the decade: the real estate moguls Carl Fisher, George Merrick, and Addison Mizner, and the once-in-a-century hurricane whose aftermath triggered the stock market crash. This essential account is a revelatory—and riveting—history of an era that still affects our country today.
Author : Joseph E. Stiglitz
Publisher : W. W. Norton & Company
Page : 320 pages
File Size : 50,7 Mb
Release : 2010-10-04
Category : Business & Economics
ISBN : 0393077071
An incisive look at the global economic crisis, our flawed response, and the implications for the world’s future prosperity. The Great Recession, as it has come to be called, has impacted more people worldwide than any crisis since the Great Depression. Flawed government policy and unscrupulous personal and corporate behavior in the United States created the current financial meltdown, which was exported across the globe with devastating consequences. The crisis has sparked an essential debate about America’s economic missteps, the soundness of this country’s economy, and even the appropriate shape of a capitalist system. Few are more qualified to comment during this turbulent time than Joseph E. Stiglitz. Winner of the 2001 Nobel Prize in Economics, Stiglitz is “an insanely great economist, in ways you can’t really appreciate unless you’re deep into the field” (Paul Krugman, New York Times). In Freefall, Stiglitz traces the origins of the Great Recession, eschewing easy answers and demolishing the contention that America needs more billion-dollar bailouts and free passes to those “too big to fail,” while also outlining the alternatives and revealing that even now there are choices ahead that can make a difference. The system is broken, and we can only fix it by examining the underlying theories that have led us into this new “bubble capitalism.” Ranging across a host of topics that bear on the crisis, Stiglitz argues convincingly for a restoration of the balance between government and markets. America as a nation faces huge challenges—in health care, energy, the environment, education, and manufacturing—and Stiglitz penetratingly addresses each in light of the newly emerging global economic order. An ongoing war of ideas over the most effective type of capitalist system, as well as a rebalancing of global economic power, is shaping that order. The battle may finally give the lie to theories of a “rational” market or to the view that America’s global economic dominance is inevitable and unassailable. For anyone watching with indignation while a reckless Wall Street destroyed homes, educations, and jobs; while the government took half-steps hoping for a “just-enough” recovery; and while bankers fell all over themselves claiming not to have seen what was coming, then sought government bailouts while resisting regulation that would make future crises less likely, Freefall offers a clear accounting of why so many Americans feel disillusioned today and how we can realize a prosperous economy and a moral society for the future.
Author : Hudson, Berman
Publisher : Algora Publishing
Page : 258 pages
File Size : 50,6 Mb
Release : 2020-05-01
Category : Science
ISBN : 9781628943979
Soil is essential to human life, but we pay little attention to this miracle of nature. The author explains the science and the importance of soil, what it is and what it does, with a description of how soils have evolved over the past 3.5 billion years.
Author : Martin Wolf
Publisher : JHU Press
Page : 270 pages
File Size : 49,9 Mb
Release : 2010-04-01
Category : Business & Economics
ISBN : 9780801898433
Since 2008, when Fixing Global Finance was first published, the collapse of the housing and credit bubbles of the 2000s has crippled the world’s economy. In this updated edition, Financial Times columnist Martin Wolf explains how global imbalances helped cause the financial crises now ravaging the U.S. economy and outlines steps for ending this destructive cycle—of which this is the latest and biggest. An expanded conclusion recommends near- and long-term measures to stabilize and protect financial markets in the future. Reviewing global financial crises since 1980, Wolf lays bare the links between the microeconomics of finance and the macroeconomics of the balance of payments, demonstrating how the subprime lending crisis in the United States fits into a pattern that includes the economic shocks of 1997, 1998, and early 1999 in Latin America, Russia, and Asia. He explains why the United States became the “borrower and spender of last resort,” makes the case that this was an untenable arrangement, and argues that global economic security depends on radical reforms in the international monetary system and the ability of emerging economies to borrow sustainably in domestic currencies. Sharply and clearly argued, Wolf’s prescription for fixing global finance illustrates why he has been described as "the world's preeminent financial journalist."
Author : Ziya Tong
Publisher : Canongate Books
Page : 352 pages
File Size : 50,5 Mb
Release : 2019-10-03
Category : Science
ISBN : 9781838850500
What are we not seeing? Our naked eyes see only a thin sliver of reality. We are blind in comparison to the X-rays that peer through skin, and the animals that can see in infrared or ultraviolet or with 360-degree vision. In The Reality Bubble, Ziya Tong illuminates this hidden world and takes us on a journey to examine ten of humanity’s biggest blind spots. What she reveals is not on the things we didn’t evolve to see but, more dangerously, the blindness of modern society. Fast-paced, utterly fascinating and deeply humane, this vitally important book gives voice to the sense we’ve all had – that there is more to the world than meets the eye.
