Of Galbraith's classic examination of the 1929 financial collapse, the Atlantic Monthly said: Economic writings are seldom notable for their entertainment value, but this book is. Galbraith's prose has grace and wit, and he distills a good deal of sardonic fun from the whopping errors of the nation's oracles and the wondrous antics of the financial community. Now, with the stock market riding historic highs, the celebrated economist returns with new insights on the legacy of our past and the consequences of blind optimism and power plays within the financial community.
I started listening to this book a couple weeks ago. After the Wall Street debacles of the last few days, I had a deja vu so I started listening again from the beginning. What we are hearing/seeing now is exactly how Dr. Galbraith wrote it 54 years ago - the President and financial leaders saying the fundementals of the economy are strong, the beginnings in the land grab and opportunism cheaply available with little to no collateral needed for a loan, the Sunday afternoon meetings with nothing reported to the press, the bailout from the government. And so many more. Only problem is, Dr. Galbraith is writing the history of The Great Crash of 1929! Will we ever learn?