Tuesday, May 12, 2009

Lords of Finance

I was listening to an interview on Econ Talk with Ed Leamer, an econometrician from UCLA. In this interview he was talking about how stories are important in Macroeconomics. He made a comment (the true intent of his comment scape me) along the lines of macroeconomics should be taught like literature.
This weekend I started reading a book called The Lords of Finance by Liaquat Ahamed and I think I understand Leamer's comment now. It is probably different than he meant it but I like to think this is what he meant. The Lords of Finance is written by an Economist but it reads like a good history book. He goes through the historical personalities that were in charge during the 1930's as the Great Depression hit. He paints these personalities one by one in exquisite detail. I am currently on Chapter 4 and I am totally fascinated by these forgotten financiers. I recommend this book to anyone interested in History.

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