bwaber@bookwyrm.social reviewed Invested by James Taylor
A Riveting History of Popular Finance
5 stars
This is a fascinating history of finance, specifically focusing on financial advice for the general audience. The authors trace its genesis in the 1700s to the "financial gurus" of today, demonstrating the arc of the genre and the timelessness of the field. Promises that technological innovation will lead to "perfect markets" can be seen over this entire period, with similar prognostications made about everything from the telegraph and the internet. The dubious credentials of those who dole out the advice is also essentially timeless, with most promoters making far more money from selling books and seminars than actually investing. This phenomena still has a sizable influence on how people conceive of markets today, and thus this up to date history is important background to truly understand what flawed assumptions and practices have been baked in over the centuries. Highly recommend
This is a fascinating history of finance, specifically focusing on financial advice for the general audience. The authors trace its genesis in the 1700s to the "financial gurus" of today, demonstrating the arc of the genre and the timelessness of the field. Promises that technological innovation will lead to "perfect markets" can be seen over this entire period, with similar prognostications made about everything from the telegraph and the internet. The dubious credentials of those who dole out the advice is also essentially timeless, with most promoters making far more money from selling books and seminars than actually investing. This phenomena still has a sizable influence on how people conceive of markets today, and thus this up to date history is important background to truly understand what flawed assumptions and practices have been baked in over the centuries. Highly recommend