The Lords of Creation

De: Fredrick Lewis Allen

Narrado por: William Hope

An acclaimed classic detailing the economic history of America in the late 19th and early 20th centuries and exposing the capitalist giants who changed the world. Frederick Lewis Allen’s insightful financial history of the United States - from the late 1800s through the stock market collapse of 1929 - remains a seminal work on what brought on America’s worst economic disaster: the Great Depression. In the decades following the Civil War, America entered an era of unprecedented corporate expansion, with ultimate financial power in the hands of a few wealthy industrialists who exploited the capitalist system for everything it was worth. The Rockefellers, Fords, Morgans, and Vanderbilts were the "lords of creation" who, along with like-minded magnates, controlled the economic destiny of the country, unrestrained by regulations or moral imperatives. Through a combination of foresight, ingenuity, ruthlessness, and greed, America’s giants of industry remolded the US economy in their own preferred image. In so doing, they established their absolute power and authority, ensuring that they - and they alone - would control the means of production, transportation, energy, and commerce - thereby setting the stage for the most devastating global financial collapse in history.

As Gretchen Morgenson thoughtfully states in her introduction, "It is not immediately clear why the frequency and severity of financial scandals is increasing in the United States. What is clear is that we need to understand the origins of these disasters, as well as the policies and people that bring them on.... While distant actions may seem unrelated to current events, rereading about the past almost always provides surprising insights into the present."

©1935 Frederick Lewis Allen (P)2014 Audible Inc.

Enlightening

If all this is true, then what else is possible? Great info, too much side story sometimes.

A 1935 Look with Modern Implications

In addition to the interesting tone and storytelling, Allen's analysis of wealthy machinations, dangerous practices, and unsound financial instruments proves instructive. The names and tools have changed, but as the 2008 collapse (and other downturns) tell us, the dangers of predatory and manipulative capitalism and the too often belated efforts to rein it in remain a constant nearly 100 years later.

An absolute 'must read'

Answers many of your questions about 'what is wrong with America' and the world. Explains why the best country the world has ever seen is polarized and 'how' God was replaced with $$$

timeless

might as well describe today's economy. the players and names change, but the game and the plays don't change much, if at all. they just adapt.

The Michael Lewis of the Early 20th Century

Allen did a great job describing the in and outs of the banking business from the 1890s to the 1940s. It's too bad we can't seem to shake off the demons of greed, and fix the errors in our investment system.