Lords of Finance: The Bankers Who Broke the World

Today I recalled this fascinating book “Lords of Finance: The Bankers Who Broke the World” by Liaquat Ahamed. It’s commonly believed that the Great Depression that began in 1929 resulted from a confluence of events beyond any one person’s or government’s control. In fact, it was the decisions taken by a small number of central bankers (of Britain, France, Germany and the United States) that were the primary cause of the economic meltdown, the effects of which set the stage for World War II and reverberated for decades. Watching today the world’s central bankers and finance officials grappling with the current situation, reinforces the lesson that there is no magic bullet or simple formula for dealing with financial issues.

To the book

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