If it hasn’t already, Lords of Finance: The Bankers Who Broke the World by former World Bank economist Liaquat Ahamed and hedge fund advisor, is one book that needs to catch your attention. Four men, as Mr. Ahamed tells the tale, revamped the world banking system at the end of WWI and set the stage for the Great Depression. What makes this work relevant is its timeliness. There are spine-chilling parallels between today’s economic crises and the what these men set up almost 100 years ago. Reviews by the Washington Post and others are impressively positive.
I’ve been listening to the carping about almost everything the current administration suggests to repair this crises. I’ve even carped about some of what I’m hearing is part of the plan.
On the other hand, Economics is probably the most misunderstood, most important field of study and learning facing us all right this minute. Why do we shun the obvious?
Before any of us opens our mouths and complains about anything, we all need to know and understand more. There’s only one way to do it: Read and study. There are no shortcuts.