A Short History of Financial Euphoria

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Whittle Direct Books, Jan 1, 1990 - Speculation - 85 pages
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User Review  - lindap69 - LibraryThing

This short book should be a must read for all those involved in our financial institutions. Galbraith shows how we have repeatedly allowed ourselves to ride the boom/bust roller coaster and how the ... Read full review

A short history of financial euphoria

User Review  - Not Available - Book Verdict

No matter what your political leanings or economic beliefs might be, there is no denying that Galbraith is a brilliant writer. In this humorous and thoughtful book, he traces the investor "herd ... Read full review

Contents

Section 1
Section 2
Section 3
Copyright

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About the author (1990)

John Kenneth Galbraith is a Canadian-born American economist who is perhaps the most widely read economist in the world. He taught at Harvard from 1934-1939 and then again from 1949-1975. An adviser to President John F. Kennedy, he served from 1961 to 1963 as U.S. ambassador to India. His style and wit in writing and his frequent media appearances have contributed greatly to his fame as an economist. Galbraith believes that it is not sufficient for government to manage the level of effective demand; government must manage the market itself. Galbraith stated in American Capitalism (1952) that the market is far from competitive, and governments and labor unions must serve as "countervailing power." He believes that ultimately "producer sovereignty" takes the place of consumer sovereignty and the producer - not the consumer - becomes ruler of the marketplace.

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