A Short History of Financial Euphoria

By: John Kenneth Galbraith

Narrated by: Liam Gerrard

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.

©1990 John Kenneth Galbraith (P)2022 Tantor

History doesn’t repeat but it does rhyme

It is amazing how human nature and emotion enables bubbles to repeat throughout history. This book is a stark reminder of the need for prudence during financial euphoria. Too much leverage is the common thread for the bursting of bubbles.

Appreciated. Persistent Question

I appreciate the author’s accounting of several historical market crashes. I couldn’t help but want the author to answer the question, “what is value?” to delineate unjustified market enthusiasm with appropriate market pricing.

Excellent Overview of Crashes

I really enjoyed this short book/essay. It covers the history of major “panics” from 1600s to 1987. I highly recommend this and may add to my macroeconomics course as an extra reading.

Short and Sweet

Great quick synopsis of market crashes. I learned more about the past history of stock market crashes. I like the narrative structure of the material.

Short Listen - Worth Your Time

Wise words about financial markets and human nature. Would make a good addition to personal finance curriculum for high school or college students, but worth your time at any age.