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Indlæser... A Nation of Deadbeats: An Uncommon History of America's Financial Disasters (udgave 2012)af Scott Reynolds Nelson (Forfatter)
Work InformationA Nation of Deadbeats: An Uncommon History of America's Financial Disasters af Scott Reynolds Nelson
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Bliv medlem af LibraryThing for at finde ud af, om du vil kunne lide denne bog. Der er ingen diskussionstråde på Snak om denne bog. This book looks back at the history of financial panics and defaults in American history. It helps puts today's discussions in perspective ( ) Nelson looks at the economic crises that have plagued the United States since the founding of the republic. He looks at different forms that credit and money have taken in the United States. He then looks at how those monetary systems have been abused, usually leading to over extension of credit and financial collapse. In each case, a financial boom led by a commodity (wheat, cotton, land) led speculators to borrow money to invest with little or no collateral. When the boom ended, the debts went bad. Nelson is a great story teller. He incorporates personal stories and vignettes to keep the narrative interesting. He also does an excellent job making the changing economic systems understandable to the layman. I have no background in economics and my eyes tend to glaze over when it is explained to me, but I think I understood the way Nelson was explaining it. My biggest reservation with the book (which is why I only give it three stars) is that in the few areas of history that he covers that I am familiar with, he makes some glaring mistakes. The first was that he suggests that the Cuban revolution against Spain was sparked by US sugar policies, despite the fact that there had been revolutions going for decades before the 1890s. No doubt American policy exacerbated the crisis, but he is operating off a very old interpretation of the Spanish-Cuban-American War if he contends that the US provoked the Cuban revolt. A second issue was that he referenced the first New Deal many times when discussing the Great Depression. He notes that it was from 1929-1933, which is not the case. The New Deal started when FDR took office in 1933, not when Hoover was in office. This is an undergrad mistake. The fact that he repeats it throughout the chapter makes me question the accuracy of other assertions. I hope that his economic history is better than his grasp on those two events because this is an excellent read and very informative. I just need to verify its accuracy on other points.
"A Nation of Deadbeats: An Uncommon History of America's Financial Disasters," Scott Reynolds Nelson's look at financial crises from different decades, starts down several interesting paths of explanation but becomes unfocused and leaves much out.
A history of financial crashes in the United States offers concise explanations of little-understood principles about consumer debt that were at the core of each recession, recounting lending practices and schemes that triggered large-scale crashes and controversies. No library descriptions found. |
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