Bryan Taylor, Chief Economist for Global Financial Data, has just released his first collection of articles and blogs on financial history. The book is a light-hearted look at some of the more entertaining episodes of economic history. There are 27 chapters covering a wide variety of topics. You can either read the book straight through or pick it up for a single chapter.
Bryan Taylor uses his knowledge of the past to illustrate how corporations and governments have helped and harmed the economy and financial markets. Readers will learn about the greatest counterfeiter of all time, the first publicly traded bonds, the worst inflation in history, the currency that created two countries, zombie bonds, and the New Jersey tailor who went to jail for undercutting other tailors by 5 cents.
Taylor provides his insights on the gold standard, government debt, the stock market and why the Fed will keep interest rates low for years to come. He discusses why the gold standard will never return and provides his own theory of the equity-risk premium and how it has changed over time. The author also gives his own personal experience of the Alice-in-Wonderland world of Cuban economics.
Whether looking for an amusing glimpse into the past or to learn how the economy can affect the stock market, Debt, Defaults, and Depression provides this and more. Even people who think calling economics the “dismal science” is being too kind will enjoy this book.
This book is the first of two collections of articles and blogs that Taylor has written. Taylor’s second collection of blogs, Stock Market Scams, Swindles and Successes will be released this summer.