In 'A Short History of Financial Euphoria', John Kenneth Galbraith uncovers the cyclical nature of financial bubbles throughout history, revealing the patterns of human behavior that lead to economic crises. With wit and insight, he illustrates how greed and irrationality have historically blindsided the masses, prompting investment frenzies that often end in disaster. Galbraith's reflections serve as a cautionary tale, urging readers to recognize the signs of impending euphoria before it's too late. This brief yet impactful read challenges our understanding of finance and the psychology behind it. Are we destined to repeat the mistakes of the past, or can we finally learn from them?
By John Kenneth Galbraith
Published: 1994
"The history of finance is a history of man’s tendency to forget the lessons of the past and to repeat the same mistakes, only on a grander scale."
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 Atlantic. With incomparable wisdom, skill, and wit, world-renowned economist John Kenneth Galbraith traces the history of the major speculative episodes in our economy over the last three centuries. Exposing the ways in which normally sane people display reckless behavior in pursuit of profit, Galbraith asserts that our "notoriously short" financial memory is what creates the conditions for market collapse. By recognizing these signs and understanding what causes them we can guard against future recessions and have a better hold on our country's (and our own) financial destiny.
Showing 8 of 24 similar books
James Clear is the author of the bestselling book Atomic Habits, which focuses on the power of small habits and incremental improvements to achieve significant personal and professional growth. Clear’s writing blends insights from psychology, neuroscience, and productivity to provide practical strategies for building better habits. His work has helped millions of people create positive changes in their lives by focusing on the process rather than the outcome. James’s clear, actionable advice has made him a sought-after speaker and thought leader in the field of personal development.
Eric Weinstein is an accomplished American mathematician, economist, and writer, known for his influential work in the fields of geometric unity and economic theory. As the Managing Director of Thiel Capital, he has significantly impacted the financial and technological sectors. Weinstein is also renowned for his thought-provoking discussions on the podcast "The Portal," where he explores complex scientific and social issues. He has written extensively on a variety of topics, contributing to both academic and popular literature. His unique perspectives and interdisciplinary approach have earned him recognition as a leading intellectual voice of his generation.
Ana Lorena Fabrega is an innovative educator and author passionate about reimagining education. Known as “Ms. Fab,” she is the Chief Evangelist at Synthesis, an education startup inspired by the problem-solving and collaboration model used at SpaceX. She advocates for alternative learning methods, encouraging curiosity and creativity in students. Ana's work emphasizes the importance of engaging young learners in real-world challenges and critical thinking. She also shares insights on education reform through her popular newsletter, Fab Fridays.
Charlie Munger is an American investor, businessman, and philanthropist, best known as the vice chairman of Berkshire Hathaway, where he partners with Warren Buffett. Renowned for his insights on investment strategies and mental models, Munger has significantly influenced the world of finance. His notable literary contributions include "Poor Charlie's Almanack," a compilation of his speeches and writings that distill his wisdom on decision-making and business principles. Munger's work emphasizes the importance of multidisciplinary thinking and continuous learning. Beyond his financial acumen, he is celebrated for his charitable efforts, particularly in education and healthcare.
Nassim Nicholas Taleb is a Lebanese-American author, scholar, and risk analyst, best known for his work on uncertainty, probability, and risk. His books, including The Black Swan and Antifragile, explore how rare and unpredictable events shape the world and how individuals and systems can become more resilient to shocks. Taleb’s insights on risk management have influenced fields ranging from finance to medicine, and he is known for his outspoken criticism of conventional wisdom. His ideas about randomness, decision-making, and the limitations of human knowledge have made him a leading thinker in modern economics and philosophy.
Howard Marks was a renowned Welsh author and drug smuggler, best known for his bestselling autobiography, "Mr Nice," published in 1996. The book chronicles his complex life, from Oxford University graduate to one of the world's most infamous cannabis traffickers. Marks' candid storytelling and unique perspective earned him a cult following and critical acclaim, transforming him into a counterculture icon. He further contributed to literature with several other works, including "Señor Nice" and "Sympathy for the Devil." Marks' legacy continues to influence discussions on drug policy and the criminal justice system.
Alexis Ohanian is an American entrepreneur, investor, and co-founder of Reddit, one of the world’s most popular social news and discussion platforms. Ohanian is also a prominent advocate for open internet and net neutrality, and he has invested in numerous startups through his venture capital firm, Initialized Capital. In addition to his work in tech, Ohanian is involved in philanthropy, supporting causes related to women’s rights, education, and social justice. He is married to tennis star Serena Williams, and together they advocate for gender equality and inclusive leadership. Ohanian’s influence in the tech world and his commitment to social impact have made him a respected figure in both business and activism.
David Heinemeier Hansson, also known as DHH, is a Danish programmer, entrepreneur, and author, best known as the creator of Ruby on Rails, a popular web application framework. Heinemeier Hansson is also a partner at Basecamp, a project management and collaboration software company he co-founded. His contributions to software development have earned him widespread recognition, with Ruby on Rails being used by thousands of developers and companies worldwide. Heinemeier Hansson is also a vocal advocate for remote work, simplicity in business, and sustainable work practices, ideas he explores in his bestselling books Rework and It Doesn’t Have to Be Crazy at Work. In addition to his work in tech, he is an accomplished race car driver, having competed in the 24 Hours of Le Mans. Heinemeier Hansson’s approach to work-life balance and entrepreneurship has made him a thought leader in the tech community, where he continues to challenge traditional business practices and advocate for more human-centered approaches to work
Showing 8 of 13 related collections
“The history of finance is a history of man’s tendency to forget the lessons of the past and to repeat the same mistakes, only on a grander scale.”
A Short History of Financial Euphoria
By John Kenneth Galbraith
Discover a world of knowledge through our extensive collection of book summaries.
John Kenneth Galbraith (1908-2006) was a prominent American economist, public official, and author, best known for his contributions to economic theory and policy in the 20th century. A leading figure in the post-World War II era, Galbraith's work often focused on the interplay between economics and societal values. His notable works include 'The Affluent Society,' 'The New Industrial State,' and 'The Economics of Innocent Fraud.' Galbraith's writing style is characterized by his ability to simplify complex economic concepts while also merging wit, satire, and a strong sense of social critique, making his insights accessible to a broad audience.
Key information about the book.
Buy on Amazon
Buy via BookShopSupport local bookstores: BookShop gives a portion of each sale to independent bookshops!
For use in schools and libraries only. Gen is plucked from the king's prison by the king's magus who wants his assistance in stealing an ancient treasure.
In the epic fantasy saga "The Wheel of Time," the fate of the world hangs in the balance as young Rand al'Thor discovers he is the Dragon Reborn, destined to battle the Dark One. With a diverse cast of characters, including powerful Aes Sedai and fearless warriors, Rand and his friends embark on a perilous journey filled with ancient prophecies and perilous magic. As they navigate treachery and alliances, the line between good and evil blurs, leaving them questioning their own destinies. Secrets of the past and the cyclical nature of time weave a tapestry that draws readers deeper into a richly constructed universe. Will they overcome their fears and unite against a looming darkness, or will history repeat itself in a devastating cycle?
The Money Book for the Young, Fabulous & Broke is your ultimate financial guide, tailored for those navigating the complexities of modern money management. With vibrant insights and relatable anecdotes, author Suze Orman empowers readers to take control of their finances while embracing their youthful exuberance. Discover essential tools for budgeting, saving, and investing, all designed to transform your financial future from daunting to dazzling. Orman’s candid advice challenges you to rethink your relationship with wealth and offers a blueprint for living fabulously, even on a budget. Are you ready to unlock the secrets to financial freedom and become fabulously secure?
In "The 9 Steps to Financial Freedom," author Suze Orman unveils a transformative blueprint that empowers readers to take control of their financial lives. This compelling guide combines practical strategies with profound mindset shifts, encouraging individuals to confront their fears and embrace their worth. Each step is designed to dismantle barriers to wealth and instill lasting security, guiding readers from financial confusion to clarity. Through relatable anecdotes and actionable advice, Orman inspires a journey of self-discovery and financial empowerment. Are you ready to unlock the secrets to true financial freedom?
In "The Big Short," Michael Lewis unveils the hidden complexities of the 2008 financial crisis through the eyes of a few unconventional investors who saw disaster coming. As they bet against the housing market, these outsiders navigate Wall Street’s labyrinthine greed and negligence, exposing the flawed logic behind the crisis. With wit and suspense, Lewis reveals the shocking truth about the financial instruments that led to economic chaos. Readers will find themselves questioning the very foundations of finance while gripping the edge of their seats at the unfolding drama. Can a handful of mavericks really challenge the system, or are they just playing a dangerous game of chance?
In "Black Edge," investigative journalist Sheelah Kolhatkar delves into the high-stakes world of hedge funds and the enigmatic figure of Steven A. Cohen. As she unravels the saga of insider trading, greed, and Wall Street's murky ethics, the book pulls readers into a gripping tale of ambition that spans decades. With intellectual prowess and audacious risk-taking, Cohen's rise to power raises questions about the moral compass of finance. Kolhatkar's penetrating analysis unveils the dark side of wealth and the relentless pursuit of success, leaving readers questioning the true cost of ambition. Will you dare to uncover the secrets of a financial titan and the shadowy underworld they inhabit?
In "The Essays of Warren Buffett," the legendary investor distills decades of wisdom into a compelling collection of insights on investing, business, and life. Through a series of thought-provoking essays, Buffett shares his unique perspective on risk, value, and the importance of patience in the tumultuous world of finance. His distinctive voice combines humor with profound lessons, making complex concepts accessible to both novice investors and seasoned pros. As you delve into his reflections, you'll uncover the principles that have guided his success and how they can be applied to your own financial journey. Prepare to be inspired and challenged to rethink your approach to investing and wealth-building!
In "Slow: Simple Living for a Frantic World," the author invites readers on a transformative journey towards tranquility in the chaos of modern life. Through practical insights and heartfelt anecdotes, the book unveils the power of slowing down, highlighting how mindfulness can reinvigorate our daily routines. Each chapter challenges the fast-paced grind, offering simplicity as a remedy for stress and burnout. As you turn the pages, you'll uncover profound strategies to foster deeper connections, both with yourself and the world around you. Are you ready to embrace a slower, more fulfilling way of living?
Download our mobile app to enjoy your favorite books on the go. Get access to exclusive features, offline listening, and personalized recommendations.
