A New York Times science reporter makes a startling new case that religion has an evolutionary basis. For the last 50;000 years; and probably much longer; people have practiced religion. Yet little attention has been given to the question of whether this universal human behavior might have been implanted in human nature. In this original and thought-provoking work; Nicholas Wade traces how religion grew to be so essential to early societies in their struggle for survival; how an instinct for faith became hardwired into human nature; and how it provided an impetus for law and government. The Faith Instinct offers an objective and nonpolemical exploration of humanity's quest for spiritual transcendence.
#47696 in Books Liaquat Ahamed 2009-12-29 2009-12-29Original language:EnglishPDF # 1 8.36 x 1.20 x 5.45l; 1.05 #File Name: 0143116800576 pagesLords of Finance The Bankers Who Broke the World
Review
0 of 0 people found the following review helpful. This is really good. How he got all this biographical detail on ...By Russell DobkinsThis is really good. How he got all this biographical detail on the lives of the Central Bankers of the World from the turn of the 20'th century up and through the Crash of 29; and the subsequent Great Depression and on through WW2 is amazing. It details who the super rich bankers were who caused the Great Crash; and drove the stock market to the ground; and how they got out before it happened with their money; and after the crash; picked up the stock of the biggest companies for pennies on the dollar. Who were these guys; and how did they do it? And; who were the Central Bankers of the World who let it happen? And how did it happen; Ahamed shows it. We are in a financial mess; today; in America; and this is the history of how we got where we are today. I expect we are in for another crash which will make 1929 look like the good old days.3 of 3 people found the following review helpful. Brilliant tour of pre-world war central bankingBy userLords of finance unveils the details and nuances of the central bank decisions in the aftermath of World War I and 1929 market crash. The early parts of the book bring history to life with scenes behind the secret Aldrich plan that ultimately resulted in the genesis of Federal Reserve (despite opposition and skepticism from Progressives and Midwestern Republicans; skepticism that has continued to live on 100 years later among contemporary Fed opponents). The psychology behind historical market actions also seems no different from market behavior of our times. We can argue that markets react much more swiftly to news in the Internet era but the length and extent of market reactions follow similar course - moves in 1912; when the US woke to news of a Russian general mobilization causing a 7% drop in Dow; and subsequently in the first half of 1929; when markets initially ignored rising cost of borrowing and Fed rate hikes to continue the bull run. While media and market bulls and bears tussled with the prognosis of market moves; no one could guess the actual exogenous event that would push the domino and lead to the Great Depression: the collapse of Clarency Harty's empire; Bank of England's subsequent rate hike to prevent a knock on effect on sterling; and subsequent liquidation of US stocks by British investors who lost money in Harty's fraudulent scheme. Other parts of the book delve into Pre-World War II German economy; Gold standard; Roosevelt's market plan; British and French central banking and provide brilliant insights. Lords of Finance is a copious research piece and brilliant narration of early 20th century central banking - well deserved Pulitzer1 of 1 people found the following review helpful. Great Men? or circumstances?By fitzallingThe parallels between our current economic conditions and those that arose after World War 1 are numerous. These parallels; the economic policies pursued by the different countries and the social and economic effect of the policies make the book worthwhile.The author quotes Herodotus for "Circumstances rule men; men do not rule circumstances." The economic and social devastation wrought on Europe by World War 1 and its aftermath provides the circumstances that ruled the financiers (Norman of Great Britain; Strong of the US; Schacht of Germany and Moreau of France) who attempted to rebuild the international financial order. Their failing; described in detail; arose from the commitment to the gold standard. Norman of Great Britain in particular was trapped by his adherence to gold. The gold standard had been economic orthodoxy prior to 1914 and had served Great Britain and international trade well. As generals tend to fight the last war; so the financiers seemed constrained by gold orthodoxy. However; in the financiers' defense; the issue of war reparations to be paid by Germany to Great Britain and France; and the United States' insistence on being repaid its loans to Great Britain and France frustrated rebuilding efforts.If the book has a hero; it is John Maynard Keynes; who refused to adhere to the gold orthodoxy. His arguments for expansive government action acted as counterpoints to the policies adopted by the four main protagonists. Even if you believe that Keynes's arguments are flawed; it is still instructive to see their advocacy in the history of the time.The book is well worth reading for parallels with current economic developments. As has been said; history may not repeat itself; but it does rhyme. The financiers did not pursue exactly the same policies and the policies produced different social and economic results; which may be helpful to know as we live through our own economic turmoil.As a part of the backdrop of the times; the book explores the U.S. Federal Reserve System's formation and practical operation. The importance of the New York Federal Bank has apparently been a feature of the System from its beginning. The use of the New York Fed by private bankers to influence; if not outright determine; U.S. banking policy arose very early in the development of the Fed. The book is enlightening on this point as well.The book provides an interesting interplay of the policy initiatives and personal lives of major figures in international finance during and after WWI. This was an unexpected element of the book; which made the protagonists more human.
