Book Notes · Markets & money
Lords of Finance (Liaquat Ahamed)
Four central bankers (Norman, Strong, Moreau, Schacht) tried to rebuild the gold standard after WWI and helped turn a downturn into the Great Depression. Reparations, hyperinflation, overvalued sterling, gold hoarding, and the lesson about rigid monetary regimes.
Step 1 of 6 · Overview35 min read ·
Key idea
Prereqs: 1929 & the Depression; Bretton Woods; Central banks & interest rates. Next: When Genius Failed. Read: Liaquat Ahamed, *Lords of Finance* (2009; Pulitzer Prize for History, 2010); background: Eichengreen's *Golden Fetters*.Next: 1. The four