The world-renowned economist offers “dourly irreverent analyses of financial debacle from the tulip craze of the seventeenth century to the recent plague. This review of John Kenneth Galbraith’s book “A Short History of Financial Euphoria” documents history’s lessons for financial decision makers. A Short History of Financial Euphoria. John Kenneth Galbraith, Author Viking Books $16 (p) ISBN

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Anything that goes up hitory come down – and this has been repeating over again in history. Jul 21, Kaloyan Roussev rated it it was amazing Shelves: Why don’t we ever learn?

The assets continue ap A wonderful quick read that can be finished in one sitting. It is interesting to note that Galbraith places the blame for speculative mania quite purely within crowd psychology rather than more institutional effects like easy credit, etc.

A Short History of Financial Euphoria : John Kenneth Galbraith :

Greed is an overpowering emotion as compared to caution. We appreciate your feedback. Wonder what this book would have said about the IT bubble And about the Great Recession This is financiwl book to go to everytime prices or emotions become a little heady.

Read this for my history extension essay and the blatant doneness gradually ceases to be subtle toward the end and that was my favourite part.

He earned a PhD at the University of California in and later took a fellowship at Cambridge, financual he first encountered Keynesian economics. The New Industrial State. Apr 22, Laura Kyahgirl rated it really liked it Shelves: Shirt from the UK in 2 business days When will my order arrive? Oh, and thought his discussion of the first two American central banks, regional politics, and the wildcat banks were quite interesting, galbrqith everything discussed is generally in passing; it is a short history after all, and basically just a long essay.


The Scientific Secrets of Perfect Timing. Every 20 years, there will always be that “new big thing” where masses will craze over. I recommend this book if you want some insight into how greed and hubris affects markets again and again.

Although he died before the last crash, all of his arguments and descriptions would have applied fully. Galbraith shows that people have not learned from previous cycles of boom and bust; he does not expect that most will ever learn. Return to Book Page. Want to Read saving…. But it’s much better written and digestible than those longer treatments, and so it’s more likely that lay readers read it through.

Books by John Kenneth Galbraith. As ever, Galbraith is clear, concise and persuasive: Galbraith’s essay pales in comparison with the exhaustiveness of, for instance, Kindleberger’s history of panics, and it’s not a substitute for those more extensive books. See authors such as Nassim Nicholas Taleb for more on this subject. How to write a great review. We use cookies to give you the best possible experience.

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Second, each wave of new financial instruments is billed as unprecedented and novel and therefore exempt from the failings of earlier ones although in fact they are nothing but recycled ideas in new clothes. Read and, if not weep, at least sigh at our recidivist follies. Second, the price goes up. Bit unfair to rational choice theory, but it was a different time perhaps. Close Report a review At Kobo, we try to ensure that published reviews do not contain rude or profane language, spoilers, or any of our reviewer’s personal information.


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A Short History of Financial Euphoria

Must read for anybody who invests, gambles or cares about history. But as a writer of popular, accesible economics, he is, in my view, up there with Bastiat. The world-renowned economist offers “dourly irreverent analyses of financial debacle from the tulip craze of the seventeenth century to the recent plague of junk bonds. The title should be at least 4 characters long. Second, the market is supposed to be always right.

In this slender volume, John Kenneth Galbraith selectively traces episodes of speculative excess from the Tulipomania of the midth century through the Crash of ‘ All financial innovation involves in one form or another, the creation of debt wuphoria in greater or lesser adequacy by real assets.