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A Short History of Financial Euphoria (Whittle)
by John Kenneth Galbraith
from Penguin (Non-Classics)
Customer Reviews:
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Avg. Customer Rating: 4.5 / 5.0 
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This is a great read 
How appropriate this book is, given the recent real estate bubble burst. It is a short study of the historical bursting of bubbles. John Galbraith is a renowned economist, and admits he can't predict when bubbles will burst, just that they will. The language you hear during the upward trend of bubbles is exactly the same - that "it" will never go down. People get into a frenzy or euphoric state and ignore that fact that the bubble will ultimately burst, as it always does. This book was written prior to the... more info
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Bubble, "mass insanity", euphoria, crash, "mass memory loss"
"A Short History of Financial Euphoria: Financial Genius is Before the Fall" is a book that every financial manager must be required to read. Every financial company must have one copy in its library.
The book is powerful in its explanation and predictions of financial speculative episodes. In eight brief chapters, (I wish I could do that), JK Galbraith describes the financial euphoria preceding major financial collapses starting with the Tulipomania in the Netherlands in the 1600s and ending with... more info
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4.5 stars-Galbraith and Adam Smith agree that banker financed speculation is a grave threat to capitalism
Galbraith has written an excellent little book on the negative impacts of speculation on the American economy.The speculative dangers to free enterprise restarted with the Reagan administration's deregulation and privatization of the financial sector of the economy in the early 1980's.Galbraith's analysis is completely applicable to the Michael Milkin-Ivan Boesky directed junk bond speculation of the mid to late 1980's that led to the collapse of so many banks and S and L's in the 1989-1991 time period,as... more info
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Entertaining, but of little value 
Yes, Galbraith predicted the '87 recession- but he did so throughout much of the 1980s, during a period of tremendous growth and wealth building. When the '87 recession did occur- and let us recall that it was exceptionally short and shallow, lasting only until April of 1988- he gleefully announced his vindication.
Galbraith built his reputation on his 1955 book on the Great Depression, written at a time when Economics was in large part a historical and largely literary field, well before the... more info
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