THE TROUBLE WITH PROSPERITY; The Loss of Fear, the Rise of Speculation, and the Risk to American Savings
Language: English
Published by Crown, New York, 1996
- First Edition
- Hardcover
- Used
Seller: Rare Book Cellar, Pomona, NY, U.S.A.Rare Book Cellar
AbeBooks seller since November 24, 2001
Condition: Used
£ 49.39
Quantity: 1 available
Add to basketItem description from seller
Fine in a Near Fine dust jacket.; 9.1 X 6.6 X 1.1 inches; 348 pages.
Seller Inventory # 157469
- Title
- THE TROUBLE WITH PROSPERITY; The Loss of Fear, the Rise of Speculation, and the Risk to American Savings
- Author
- James Grant
- Publisher
- Crown, New York
- Publication year
- 1996
- Binding
- Hardcover
- Language
- English
- ISBN 10
- 0812924398
- ISBN 13
- 9780812924398
- Edition
- First Edition; First Printing.
Grant insists that the hidden source of the strength of the Dow is heresy - ideas that were deemed financially sinful only a generation ago and have now been embraced with a millennial fervor. Alas, what goes up must come down. This is a book about cycles of optimism and pessimism, of bull markets and bear markets, and of orthodoxy and apostasy, which, as Grant writes, are as old as the capital markets themselves.
Grant's underlying theme is counterintuitive, even perverse. Success is universally praised, failure disparaged, but Grant seeks to understand the neglected virtues of failure. As he puts it, "Booms do not merely precede busts. In some important sense, they cause them." How and why that is so is the question he seeks to answer. Because people in markets make mistakes, he observes, tearing down is an indispensable part of the process of building up. The errors of the up cycle must be sorted out, reorganized, or auctioned off. Any social system can cope with success, but the genius of capitalism, he insights, is that it also excels at failure. And failure, he concludes, is at the least instructive, provided we are willing to draw its lessons. Moreover, it lays the foundation for later success. But too often we suppress its symptoms; we do so, Grant warns, at our peril.
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From the Back Cover
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Rare Book Cellar
Pomona, NY, U.S.A.
AbeBooks seller since November 24, 2001
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modern first editions, signed books, uncorrected Proofs advanced reader copies, art architecture and photography, science and nature, childrens books, vietnam, history books, sports hunting & gambling, biographiesSeller's business information
Rare Book Cellar
NY, U.S.A.
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Benjamin Moss
4 Fox Hollow Rd
Pomona NY 10970
USA
845-512-8229
Rarebookcellar@gmail.com
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