Crystal's Reviews > Lords of Finance: The Bankers Who Broke the World

Lords of Finance by Liaquat Ahamed
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Sep 11, 2011

it was amazing
Read from August 11 to September 10, 2011

A lengthy but informative read about the key central bankers and actions that led up to the Great Depression. The author assumes the reader has some knowledge of certain economic relationships, in terms of the implications of deflation, inflation and using the gold standard, which twenty years after my last economics course required a little effort on my part to work out. I wouldn't have minded a little more explicit information to help make sense of all of it.

The author goes into great detail about the personalities of the central bankers, provides copious chronological details and includes many humorous and interesting facts to keep the reader's interest on a subject that would otherwise be a very dry read. Nonetheless, a lot can happen in a paragraph, and this book did require a careful read in order to absorb so much information. To be honest, it bears a second read to really get all 500 pages of it all.

Before I read this, I thought I had a good understanding of the Great Depression. Now, I realize that the crash of the stock market was only one of several events that culminated to break the economy. In similar ways to our current economic crisis, on a smaller scale, the U.S. was affected by global economic events. It is a great reminder that then and now, our economic health is tied to that of other countries and it behooves us to have policies that do not ignore this truth.
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