Jump to ratings and reviews
Rate this book

The Wealth of Shadows

Rate this book
An ordinary man joins a secret mission to bring down the Nazi war machine by crashing their economy in this historical thriller based on a true story, from the Academy Award-winning screenwriter of The Imitation Game and bestselling author of The Last Days of Night .

1939. Tax attorney Ansel Luxford has everything a man could want—a comfortable career, a brilliant wife, a beautiful new baby. But he is obsessed by a belief that Europe is on the precipice of a war that will grow to consume the world. The United States is officially proclaiming neutrality in any foreign conflict, but when Ansel is offered an opportunity to move to Washington, D.C., to join a clandestine team within the Treasury Department that is conspiring to undermine Nazi Germany, he uproots his family overnight and takes on the challenge of a lifetime.

How can they defeat the enemy without firing a bullet?

To thwart the Nazis, Ansel and his team invent a powerful new theater of economic warfare. Money is a dangerous weapon, and Ansel’s efforts will plunge him into a world full of espionage, peril, and deceit. He will crisscross the globe to broker backroom deals, undertake daring heists, and spar with titans of industry like J.P. Morgan and the century's greatest economic mind, Britain's John Maynard Keynes. When Ansel’s wife takes a job with the FBI to hunt for spies within the government, the need for subterfuge extends to the home front. And Ansel discovers that he might be closer to those spies than he could ever imagine.

The Wealth of Shadows is a gripping, mind-expanding thriller about the mysterious powers of money and the lies worth telling to defeat evil, as witnessed by an unassuming American at the center of the hidden war that shaped the modern world.

384 pages, Hardcover

First published May 21, 2024

383 people are currently reading
13705 people want to read

About the author

Graham Moore

42 books1,366 followers
Graham Moore is a New York Times bestselling novelist and Academy Award-winning screenwriter.

His screenplay for THE IMITATION GAME won the Academy Award and WGA Award for Best Adapted Screenplay in 2015 and was nominated for a BAFTA and a Golden Globe.

His first two novels, THE LAST DAYS OF NIGHT (2016) and THE SHERLOCKIAN (2010), were published in 24 countries and translated into 19 languages. THE LAST DAYS OF NIGHT was named one of the best books of the year by the Washington Post, the Philadelphia Inquirer, and the American Library Association. THE SHERLOCKIAN was nominated for an Anthony Award. His third novel, THE HOLDOUT, will be published by Random House on February 18, 2020.

Graham lives in Los Angeles with his wife, Caitlin, and their dog, Janet.

Ratings & Reviews

What do you think?
Rate this book

Friends & Following

Create a free account to discover what your friends think of this book!

Community Reviews

5 stars
1,074 (35%)
4 stars
1,326 (43%)
3 stars
521 (17%)
2 stars
86 (2%)
1 star
25 (<1%)
Displaying 1 - 30 of 419 reviews
Profile Image for Liz.
2,850 reviews3,764 followers
September 12, 2024
I really didn’t want to read another book about WWII. What else could be covered that I hadn’t already read about? Well, Graham Moore put the lie to the myth I’ve read it all. I’ve been a fan of Moore since he so coherently explained electricity in The Last Days of Night. This time, he tackles economic theory based on the true story of a tax attorney who thinks he knows a way to take down the German economy. He goes to work for the US Treasury along with a small group of others. Trust me when I say that you shouldn’t get put off by the idea of an historical thriller based on economic warfare. You don’t need an MBA to understand all the concepts presented here.
I expect historical fiction to teach me something while telling a good story. This does it in spades. I had never understood how a country the size of Germany could so easily take on most of the rest of Europe, Russia and England. This explains it. Nor did I know that the concept of the GNP (gross national product) only dates back to 1939. Or who Breckinridge Long was and the role he played in preventing Jews from entering the US. The true trick is to insert all those facts without bogging down the story. Moore does that, too.
I was fascinated by this book. In addition to the race to find a way to bring down the German economy, the team is dealing with a possible Russian spy and someone else trying to prevent every idea they come up with. It also provides the history on how the American dollar became the global currency and the formation of the World Bank and the IMF.
There are all sorts of moral and legal implications and it added to the tension to see how each person played the others.
Moore wrote the screenplay for The Imitation Game, so he knows how to write a scene. The car purchase scene with the Professor was priceless.
I also have to give credit to Moore for his choice of quotations at the start of each chapter. And finally, his is the most detailed Author’s Note I’ve ever read. It goes chapter by chapter spelling out the facts, what dates were changed for convenience and what was fiction.
My thanks to Netgalley and Random House for an advance copy of this book.
Profile Image for Clif Hostetler.
1,285 reviews1,042 followers
February 20, 2025
This historical novel describes the activities of the U.S. Treasury Department during the three years leading up to American involvement in WWII. It was a time during which war was developing and ultimately raging in Europe, but the United States remained officially neutral in order to appease the isolationist branch of American politics that wanted no part in the war. The Roosevelt administration very much wanted to help the British and French and hinder the Germans cause, but any action taken needed to be covert in order to not conflict with the official position of neutrality.

That's where the Treasury Department's special "research department" became involved studying the workings of the Nazi economy to find ways of hindering its operation. As things progressed it became evident that certain individuals in the State Department were pro-German and not only wouldn't cooperate but actively hindered the efforts of the Treasury Department. The FBI is even involved finding evidence that there was a Soviet spy in the Treasury Department—who could that be? (The truth doesn't come out until the very end of the book.)

The book's timeline skips from Pear Harbor attack in 1941 to the Bretton Woods Conference in 1944. Much of the narrative among the economists in the early part of the book involves discussing ways to structure international trade so as to prevent future wars. All those theories coalesced at Bretton Woods into a multinational agreement to create a new postwar international monetary system and economic order that included establishing the International Monetary Fund (IMF) and the World Bank. Arriving at an agreement wasn't easy and as described in this book required a bit of trickery in order to get the British to sign.

An Author's Note at the conclusion goes through the book chapter by chapter explaining what parts are true history and where activities and timeline were modified for novelistic purposes. I wish all authors of historical fiction would do this. I very much appreciate this information, and I'm frustrated with other books that leave me guessing how close the story is to actual history.

There's a whole host of characters who pass through this story. The book's narrative follows the life of Ansel Luxford whose name repeatedly showed up in the author's research, but is not widely known otherwise. I think all named characters in the book are based on real individuals. The following is a list of some of them with links to their Wikipedia biography. (There is no Wikipedia bio for Ansel Luxford—the only available bio of him in on the 3rd page of this 1950 publication.)
Harry Dexter White
Henry Morgenthau Jr.
John Maynard Keynes
Breckinridge Long
J.P. Morgan Jr.
John W. Pehle
Josiah Ellis DuBois Jr.
Herman Oliphant
Mabel Newcomer
Much economic theory gets discussed in this book and some readers may wonder whether such dialog belongs in a novel. My response to this question is that it's more interesting to read about economics in a novel than it is to read an economics textbook.
Profile Image for Matt.
4,875 reviews13.1k followers
April 11, 2024
First and foremost, a large thank you to NetGalley, Graham Moore, and Random House for providing me with a copy of this publication, which allows me to provide you with an unbiased review.

Back with another piece of historical fiction, Graham Moore takes the reader on an adventure to begin the Second World War. While I tend to steer clear of this era, Moore’s US flavoring and keeping things out of the European theatre had me curious to dive in and push forward. Well presented with great dialogue, Moore impresses as he inches things along.

As European tensions mount and the Nazi Party appears to be pushing its troops across the continent, Ansel Luxford wonders what will happen. Seeing a Nazi rally in his own state, the tax attorney can only hope that the beautiful wife and new baby he has at home will be enough to distract him from the horrors that are being reported. Yet, the US Government has promised to stay neutral, thereby solidifying the position with the population, as war seems all but inevitable across the Atlantic.

After being approached late one evening, Luxford is offered a position within the Treasury Department, one of many secrets in an attempt to push the Americans into the fray of the war, while staying silently on the sidelines. With the teasing of a Washington job and a chance to crush the Nazis under their own jackboots, Ansel Luxford brings his family with him to the nation’s capital to make a difference, though he is still unsure how. What will work to cripple the Nazis and their ongoing march across Europe without firing a bullet?

Once Luxford is settled, he discovers that the team on which he is assigned will be working a campaign of economic warfare, whereby the mighty dollar will be used to block weapons, leave food shares stagnant, and send budgets out the door. Money is the fuel that keeps the fighting going and to turn off the spigot is one way to ensure that things will end soon. An added bonus, it gets no blood—literal and figurative—on the hands of the US Government, as long as it is done in private. Ansel Luxford will have to work under the radar and cross the country (and the world) to ensure the traps are laid, while the Germans feel they can mount an attack on the weaker European nations, in hopes of ultimate success.

With all this action comes risk and Ansel Luxford will soon come across those who would wish to thwart the attempts at American success. He will have to be careful, particularly when his wife takes a job with the FBI to find these spies, sending his secret mission from a Washington boardroom into his own home. A chilling story of trying to pull single blocks out of the massive financial edifice known as the German economy and hoping that everything comes crashing down, without an accusation in his direction. Moore presents a brilliant piece that has all the elements of a great novel.

In a story so heavy with history, the reader has to expect a strong narrative to keep things moving. Graham Moore delivers, using his skills and short chapters to push the story forward and keep the reader eager to keep flipping pages. The central themes emerge against the backdrop of historic events, with Moore basing much of the piece on an actual person and his struggles to cripple the Third Reich from US soil. The characters are relevant for the time period and yet relate to the modern reader with ease. I am pleased to see a new war angle and am happy to have taken the time to read this Moore novel.

Plot lines have a harder way of surprising the reader when history is so heavily involved in the piece. The attentive reader will know where things are going, but Moore peppers in some twists that keep things impactful and well-developed. Surprises prove plentiful and useful, leaving the reader eager to forge onward and learn, while wondering where the fact ends and fiction commences. Moore did well with this piece and kept me eager to watch put for more books before too long.

Kudos, Mr. Moore, for a great piece that has all the elements for success.

Love/hate the review? An ever-growing collection of others appears at:
http://pecheyponderings.wordpress.com/
Profile Image for Nancy.
1,924 reviews480 followers
April 30, 2024
This page-turner ‘spy’ novel thriller has a unique slant: in 1939, when America is committed to neutrality, economists and lawyers covertly fight the Nazis by controlling money and trade to cut off supplies to Germany. More than that, they are planning a post war world economy that interconnects nations in a way that will repress any future world wars. Amazingly, the story is based on real people and historic events, even the most unlikely parts.

Ansel Luxford had settled for an ordinary life in the Midwest as a tax attorney. He is horrified by the rise of fascism. He realizes that the British were stockpiling U. S. dollars while the Nazis had developed a closed economy, raising money by conquering new territory and taking over the wealth of the conquered, as well as looting the wealth and land of the persecuted Jews. Ansel offers his services to the Treasury Department, in particular to Harry Dexter White, the “only one in Washington who’s doing anything about it.”

Ansel becomes part of a small coterie secretly working under Henry Morgenthau to find a way to curtail fascism through economics. Their earliest plans are foiled by a mole, perhaps Breckinridge Long who as ambassador to Italy became quite a fan of Mussolini and fascism. Ansel meets his idol John Maynard Keynes, only to find himself in a battle of competing visions.

There is a lot of theory bounced around between the characters, and yet I never felt overwhelmed or bogged down; Moore keeps the tension and suspense going.

Moore’s Author’s Note discusses the history behind the fiction, and where the two diverge and converge in the novel.

I thoroughly enjoyed this novel, as I did his previous novel The Last Days of Night.

Thanks to the publisher for a free book.
Profile Image for Jan Rice.
586 reviews519 followers
September 27, 2024
This story starts as World War II is ramping up with German aggression but before the US is involved militarily.

A group of American idealists who also happen to be lawyers, economists, professors -- some socialist sympathizers, some simply repulsed at Germany's human rights violations -- compose a Treasury team to take on the enemy using the skills at their disposal. How has Germany been able to finance the huge military build-up? And what does the continuing financial drain of their war machine auger for the near future? How to counter these tactics?

The events that unfold are based on a true story fictionalized to meet novelistic needs.

The story held my attention. It's not empty calories since it does involve economics and history. Don't think that makes it heavy reading, though. It's easy and fun. It is mostly plot-driven, which makes it hard for me to remember afterward. Take for example the Harry Potter books, which I'd read with gusto but once through couldn't tell you what happened -- although in this case I'm aided by the history involved and the focus on how money works.

The author does try to give each of the characters a personality, but it's not so easy. He succeeds the best with John Maynard Keynes. Yes, Keynes is one of the main characters; he and his wife. I did enjoy it, and since people like adventure stories in which "something happens," I don't hesitate to recommend it.

I also enjoyed the epigraph that began each chapter; those alone are nearly worth the price of admission.
Profile Image for Kasa Cotugno.
2,765 reviews591 followers
May 28, 2024
According to the author's note, Wealth of Shadows is based on fact, populated with people who actually lived, but because of reconstruction of conversations and personal details, has decided to designate this as fiction. Because of this, although a bit stodgy in style at times, the story is compulsively readable and intriguing with a fine sense of time. Moore displays a knowledge of economic forces and the power they hold over world events. I was particularly taken by the choice of introductory quotes that preceded each section, quoting every recognizable name from Adam Smith to Warren Buffett.
Profile Image for Suzanne.
1,087 reviews37 followers
August 6, 2024
Unexpectedly loved this book about using economics to fight the Nazi regime.
Profile Image for Casey.
22 reviews3 followers
March 9, 2024
I am a huge fan of Graham Moore—I loved both The Last Days of Night and The Holdout and of course loved The Imitation Game as well. I was so thrilled to receive an ARC of this book from NetGalley, so thank you very much to them and the publisher for the chance to provide this review.

This book is about Ansel Luxford, a tax attorney who joins a secret group within the Treasury Department attempting to crash Germany’s economy during WWII. From then on, he and his group must deal with spies working against them at almost every turn, coming head to head (and sometimes nearly to blows) with famous names of the day, and doing everything they can to save the world from fascism, all while America is supposedly “neutral” in the conflict. Their tool for their mission? Money.

This book was a combination of historical fiction and the most addictive spy thriller—I couldn’t put it down! I learned a lot while reading this book—it’s full of economic and philosophical theories, but they are explained in a way that makes it very understandable, even if you know relatively little about these topics. I also loved the author’s note at the end, where Moore breaks down by chapter exactly which parts of his brilliant story are fiction, and which really happened. I’d highly recommend this book to anyone who enjoyed Moore’s other books or enjoys whip-smart historical fiction/spy novels. 5 stars!
Profile Image for AndiReads.
1,372 reviews175 followers
March 10, 2024
Nazi Story!

When Ansel, a tax attorney is offered the opportunity of a lifetime he grabs it with both hands. He and his family move to Washington to join a secret mission within the treasury department.

Based on a true story, Moore has created an espionage thriller on economic warfare when the world is again on the precipice of war.
It's thrilling and believable. Best yet, Moore adds in chapter by chapter breakdown of what is true and what he created. If you are a war buff, a historical book fan or love spy thrillers, this is your next book! #randomhouse #grahammoore #thewealthofshadows
Profile Image for Chris.
128 reviews6 followers
May 21, 2024
I’m almost certain that if I gave you the elevator pitch for Graham Moore’s Wealth of Shadows, you’d nod your head and say, “Huh. interesting.” Only to walk away and think, “LOL. No.”

Because my elevator pitch would be:

In 1939, the US Treasury forms a secret team of economists tasked with bringing down the Nazi war regime using…economics.

Then again, you might be someone like my wife, who doesn’t seek perpetual validation like I do and be honest and direct with your thoughts, like she was.

Quoth her: [laughing] “That sounds like it’s not my brand.”

It sounds like it’s not her brand. Or many peoples for that matter, which is my greatest fear with this book. As my elevator pitch matches the majority of descriptions I’ve seen about it. To be fair, that is…what it is. A secret team of economists tasked with bringing down the Nazi war regime using…economics. But it’s just…and you have to trust me on this…way more fun and riveting than that would have you believe.

A better vibe review is to say Wealth of Shadows is like The Big Short meets Indiana Jones.

No, there’s no epic fight scenes, or Nazi face-melting, or violence of any kind. There’s just a general Jonesy romp vibe to the book. Especially as our protagonist—Ansel Luxford, based on the real-life Ansel Luxford who was part of the very real-life team of economists charged with creating financial ruin in Hitler’s Germany—traverses the globe on his mission. Think those Indiana Jones travel montages with the maps and the planes: that’s what you’re getting in WOS.

Don’t get me wrong: there’s still a lot of economic theory and discussion, just like in The Big Short, and I’m glad I read this book instead of listened, as I know would have had to play scenes several times to understand what they were talking about. Nevertheless I just found it all so interesting—and I think you will, too.

It’s hard to imagine anyone could tell a new World War II story these days, but Moore has done it.

👁️👁️👁️👁️/5, Wealth of Shadows was a near miss for being a Certified Unputdownable™️, mostly due to some dragging near the end. Regardless, read this ASAP if you’re craving non-violent Nazi takedown, filled with political and international intrigue.

And just for the record, after I read my wife a draft of this review, she said, “You should probably read people your review and not that elevator pitch. I actually wanna read a non-violent Nazi takedown.”

And there you have it folks.
30 reviews4 followers
March 9, 2024
The Wealth of Shadows is advertised as a "gripping,mind-expanding thriller, " full of spies and intrigue. However, don't expect high-speed chases, gun fights, or fiery explosions. Rather, the story details the maneuvers of a secret group within the US Treasury Department who developed shadowy, sometimes illegal, intricate financial strategies to destroy the WWII Nazi war machine. Once I slowed my reading and adjusted my expectations (that this book was not a James Bond or Jason Bourne spy thriller), the story was quite interesting. I learned so much about how economic war can be waged as well as how to use economic ideas to bring about peace.

Moore states this is a novel wrapped around true events. Many of the characters were real people and the main events actually happened, although he adjusted details, invented conversations, and streamlined the number of characters so as to make the narrative more readable. An Author's Note documents what was real and invented for each chapter, credibly demonstrating the extensive research that shaped the book.i would have liked him to have included a bibliography of sources. I could then do further reading.

Biographies of Harry White and John Maynard Keynes are readily available, so there was significant material on which to develop those two characters. However, there is scant historical information about the main character of Ansel Luxford or his other Treasury colleagues, all who actually existed. Moore did a great job of finding scraps of information, relatives to interview, interesting historical accounts and other sources, to flesh out these people and make them relatable to readers.

Another highlight of the book are the quotes that open each chapter. Many are from famous economists while others are from a range of philosophers and politicians. The selected quotes effectively framed chapter events.

Moore provides extensive technical descriptions of international monetary practices and the manipulation of currency markets. Sometimes these were overwhelming and frankly, did slow down the story. However, they were important for understanding how the various financial strategies evolved, then ultimately why the IMF and World Bank were established.

If you are a fan of WWII fiction, I recommend this book due to its unique perspective on the era.
413 reviews10 followers
February 18, 2024
4.25. I really enjoyed Graham Moore’s Last Days of Night, so I was looking to reading his latest novel, The Wealth of Shadows. Similar to his earlier book, this historical fiction reads like a thriller. It focuses on the efforts of an obscure yet dedicated group of similarly minded public servants in the US Treasury that ultimately tried to take down the Nazi war machine and torpedo the German economy. It’s a wild ride and although it might seem daunting to read about some of the technical details of some complicated financial transactions, theories, and efforts by the team, Mr. Moore made it so palatable and easy to read. Although the United States’ stance was to remain neutral, the Treasury group was given a lot of latitude from the uppermost echelons to disrupt the Germany economy within constraints. This group concocted the cash and carry and then the lend lease initiatives to assist European allies. We meet some of the most interesting people in this group, Ansel Luxford, Harry Dexter White, Treasury Secretary Morgenthau, Randolph Paul (a founder of the Paul Weiss law firm ), Supreme Court Justice Felix Frankfurter, and John Maynard Keynes, among others, many of whom I was not aware. This thriller takes us through the halls of the US Treasury, Justice, and State Departments and the FBI, Bethesda, Maryland, McLean, Virginia, Panama and Europe. It’s a wonderful read, extremely well researched, and that will keep you captivated throughout. Thank you to Netgalley for providing me an advance copy in exchange for a candid and unbiased review.
323 reviews4 followers
June 17, 2024
This is the fascinating story of Ansel and Angela Luxford, ordinary people who worked against Germany long before the US entered WWII. I really enjoyed reading a WWII novel set in the United States and focused on the financial, behind-the-scenes action at the US Treasury and FBI.

The characters here are all real and very well drawn. Don’t worry that the book is boring based on the subject matter, the action and suspense will keep you turning the pages. The author does a great job explaining all of the economic theory.

His authors note at the end helped to make sense of what was true and what he invented for the story.
Spoiler alert: it’s mostly all true! Most historical fiction I read has parallels with what’s going on in our current time. This story is no exception.
Profile Image for Caitlin Yntema.
38 reviews2 followers
October 22, 2024
3.75
First 1/2 - great
3/4 - fine
Last 1/4 - I was trying not to fall asleep

Overall this is a good book and ppl should read it - I just don’t think I’m the target audience for an economic spy novel!!!! (Surprised?)

The real history vs. fiction is also fascinating.
Profile Image for Katie P..
12 reviews1 follower
June 15, 2025
This was well written, don't get me wrong, it's just not my cup of tea. If you love historical fiction and economics, you'd love this book!
Profile Image for Audrey.
811 reviews16 followers
February 20, 2024
I’m going to jump straight into this review and ask the question I’ve been asking myself from page one: Why is a book set in 1939 opening with a quote about Bitcoin? On the one hand, I understand it. The book has a focus on money, knowledge, power, wealth, etc. and that could be an attempt at a modern perspective. On the other, it set a tone of confusion that I didn’t shake, especially with continued quotes that sometimes only slightly correlated with the chapter it was opening.

Ansel Luxford, a tax attorney, fears the worst for Germany at the close of the 1930s. At this point in time, America is neutral in the conflict and in foreign affairs, yet Ansel finds himself being called up to join a Washington underground team to fight the Nazis. Instead of using weapons, they play to the economy, or, ‘economic warfare’.

The concept? Unique and I’m sure intriguing to some. Unfortunately, I discovered while reading that I don’t have much interest in economics. It was a new perspective on the war for me, though, so that was a big takeaway.

Thanks to NetGalley and Random House for providing me with a free digital ARC of the book!
Profile Image for John.
451 reviews69 followers
May 21, 2024
Moore is an engaging writer, but there's only so much interest and intrigue to be mined from all this talk of economics. And I mean there is some deep shit here about economic theory and philosophy, not just talk of money; it'll easily make casual readers' eyes cross, especially those who came for an espionage thriller.

Writing a war book with no battles or soldiers, where the enemy is entirely off-page (unless we're counting the subject of a last-minute twist, which isn't a twist if you do any amount of Googling about the book's subject), and the weapons are papers and footnotes is certainly a choice.

There is some genuine wit amongst the protagonists, some fun verbal sparring, but the whole conceit was just too plodding to be effective.
Profile Image for Bill.
1,058 reviews424 followers
January 30, 2025
This was a pretty fascinating read.

I'm a retired IT professional, having worked both for a high tech company and subsequently a Central Bank.
My roles evolved from server administration to project management. IT is a pretty cut and dried profession. Your skills are easily transferred from a private design environment to a public central bank. It does help somewhat to know what you are supporting and what the mission critical applications are, but the bottom line is keeping the organization's datacentre running smoothly.

Any time I would tell people I worked at a Central Bank, it was inevitable that I would be asked about interest rates or inflation or recessions. But being an IT guy it wasn't part of my official scope. Having said that, I did cross paths with a lot of economists who would chat with me about what they did, for example the considerations involved in projecting the economy. We'd also get some lunch & learn sessions from business leads who would explain the global and regional missions we were helping to support, and I had always found this fascinating.

When I heard about The Shadow of Wealth I was very intrigued with this WWII historical thriller concerning the United State's attempts to collapse Germany's economy after Hitler invaded Poland. My intrigue was met very satisfactorily. This story is based on fact, and although this can be heady stuff at times, Graham Moore made this easily digestible. I had no idea about how Hitler isolated Germany's economy and how he was able to fund such a massive war machine. Why wasn't I taught this stuff in high school? I would have spent far less time in the smoking area and parking lot for sure. As it turns out, I learned it on a beach in Jamaica. Tough one there.

I was set on giving this novel three stars because as far as characters and story engagement went, I found it wanting. It was strictly the economics strategies that kept me going, and given my demands as a reader, it's a testament to Moore's skill that I stuck with the whole thing.

It has been several days since I finished the book, and I still gaze off into space sometimes, thinking about how everything went into place. Fascinating stuff indeed.

Four stars for that alone. Maybe not the best choice for a beach read, but a great education if you're at all curious.
Profile Image for Courtney Cuppernull.
234 reviews1 follower
April 14, 2025
The former history and policy major + current finance girly had a motherfucking BALLLLLLL readings this book. A historical fiction novel about the roll of American economists manipulating monetary policy to undermine the nazi’s while the US maintained their bullshit neutrality stance? I’m so in.
1) I love the author centering a historical figure that no one has ever heard of (who really was at the center of so much of the monetary policy maneuvering that was the US pre and post WII) because we stan the reminder that history is an incomplete narrative told through the perspectives of money, influence, and victors.
2) The former policy wonk in me absolutely ate up the little subterfuges and intrigues that moved the novel forward. It gives me faith that there are similar actors (who haven’t been doged yet) working to do the same in our current hellscape of politics.
3) justice for FOOTNOTES
4) I love a work that reminds us that these people (largely men) who history holds up as monoliths of influence, intelligence, and power were simply … humans. They were driven by greed, money, faith, arrogance, and their own personal definitions of “the greater good” like the rest of us.
Profile Image for Elizabeth Stolar.
521 reviews37 followers
December 8, 2024
6/7. I was very excited to see this book was coming out and I bought it soon after it was released. I got my book club to read it and everyone enjoyed it. I had read The Last Days of Night and loved it, and had also read The Holdout, which was very different. This one reminded me, in many ways, of The Last Days of Night. It took real people and made them characters, showing some historical event through the eyes of a lawyer who wasn't in the center of the action. I appreciate Moore's ability to explore some complicated issues (in this case, economics and economic theory) in an accessible way. I love WWII history and this was one aspect that wasn't something I'd read much about.
Profile Image for Jayne Hunter.
710 reviews
November 29, 2024
3.5 stars. This is an interesting historical fiction about attempts to financially disrupt the nazis before and during WWII. It’s loaded with political machinations and clever tactics with some espionage thrown in. I docked it a little because there were times that the details of the economic orchestrations was a little overdone-the story could have been conveyed just as powerfully with a simpler explanation.
Profile Image for Theresa.
398 reviews6 followers
June 5, 2024
3.5. I can see how this will be a hit for the right reader. That wasn't me. I appreciated the structure of this book as well as the many quotes (past and contemporary) used to start each chapter. This was meticulously researched by the author.
Profile Image for Joe.
114 reviews1 follower
July 6, 2024
When I think of thrill-a-minute page turners, I do NOT think of historical fiction about obscure 1930s tax attorneys. And yet, here we are! Graham Moore’s The Wealth of Shadows is easily my favorite read of 2024.

Are you as skeptical as I was? It shouldn’t be a surprise that Moore is adept at either the historical setting or dialogue – he won an Academy Award as the screenwriter of The Imitation Game.

The Wealth of Shadows explores the economic arena of World War II, fictionalizing the clandestine meetings and hallway conversations the Allies and Axis supporters as they sought to shape the twentieth century. While the book centers on Ansel Luxford and his trajectory from the Twin Cities to Washington, London, and beyond, plenty of national and international figures pop in and out of the years-long plot. Moore is interested in our shared understanding and use of money, trust, power, truth, and what we can stomach individually and as a people to secure any and all of those ideas.

History buffs will enjoy the pop-up-video style trivia in the end matter of the book. Moore uses his Author’s notes section to explain in a chapter-by-chapter format which people and events were real, and which portions were dramatized for the book. The most common thing he seems to have done is compressed or expanded timelines to aid in storytelling. I especially appreciated how he gives the readers his source materials so they can explore particular events or theories more on their own and form their own conclusions.

This one has earned a big time recommendation from me. Enjoy the story, and learn something along the way!
3 reviews
July 26, 2024
A very well written historical fiction book with extensive research and notes on the factual events. I loved the quotes at the start of each chapter and the references at the end of the book. I loved it!
Profile Image for Juniper Lee.
389 reviews8 followers
July 3, 2024
“Lee!” You ask. “If you liked this book so much, why are you rating it 4 stars, not 5?”

“Because it took me 10 days to read, and by that point, it was overdue and the library was giving me fines.”

“Wait, what? What does that have to do with your bookish experience?” You ask.
Well.

This book is dense. Like really, dense, thick and not skimmable at all. This is not a quick read, this is not a fun read. But it is a fascinating read. How can we as Americans not declare war on Germany but still f-them over externally?

I really enjoyed this economic espionage book. Parts of it were quite hard to digest and understand but I think many people would love this. I recommended it to my dad!

But yes, it was hard to read and not super engaging. There were moments that made me laugh out loud, and there were moments that I could picture playing out before me, like a movie. This author wrote The Immitation Game, the movie about Alan Turing - he knows how to write an engaging novel. It just took me a lot more effort to understand than I’m used to, which resulted in some library fines.

Overall, a great book, just not my favorite. I hope they turn it into a movie, maybe I’ll understand it better.
Profile Image for Angie Boyter.
2,332 reviews97 followers
June 21, 2024
A secret mission to beat the Nazis with economic war
If like many readers you are tired of books about WW II, rest assured; you have not read one like Wealth of Shadows. Wealth of Shadows opens in August, 1939, as young tax attorney Ansel Luxford on his way to work sees a group of pro-Nazis marching down the streets of the Twin Cities. Like most Americans, Luxford does not want to get involved in the European conflict, but he sees the growing threat and soon goes to Washington DC to work for the Treasury Department to try to bring down the Nazis by bringing down their economy instead of dropping bombs. He finds himself working with men like industrialist J P Morgan and economist John Maynard Keynes to try to change methods for international economic dealings, fighting an international war as important and as exciting as the one the Nazis are starting. As if the challenges of the main task were not enough, there is also the distinct possibility that there is a spy in their midst.
Graham Moore is an award-winning screenplay writer, so perhaps it is not surprising that he does an excellent job at creating scenes and displaying characters. Little touches like the occasional appearance of Ansel’s little daughter Angie enhance the overall believability of the setting. It was sad to see the antisemitism in the US even as they were opposing the Nazis and their rampant antisemitism.
Graham Moore writes gripping fiction with a bonus; there always seems to be an interesting topic I learn something about, in this case, economics and international finance in addition to history. Many standard elements we do not think about today like the World Bank or the concept of GNP were created during the period of the book. A crucial part of the book for me and probably for most readers was the highly informative Author’s Note at the end of the book that carefully informs the reader what elements were true and which were fictional. I felt I was probably learning a lot of history while reading the book, and the Author’s Note enabled me to distinguish fact from fiction. For example, protagonist Ansel Luxford was perhaps the only significant character that most readers would not have heard of, but he was real and indeed worked at the Treasury Department during WW II waging economic warfare that most people know little or nothing about to bring victory against the Nazis without losing lives.
In addition to the fine writing in the core of the book, Moore adds some delightful decorative details. How can you not like a book with chapter titles like “William Shakespeare vs. Adam Smith”, for example? Perhaps my favorite touch, though, were the quotes at the beginning of each chapter, such as the quote from Warren Buffett at the beginning of this same chapter, “No matter how great the talent or efforts, some things just take time. You can’t produce a baby in one month by getting nine women pregnant.”
Graham Moore’s many fans will be pleased to see that one of their favorites is living up to his previous work. Readers encountering him for the first time can feel equally pleased that there are more books by Moore out there for them to enjoy!
I received an advance review copy of this book from NetGalley and Random House.
Profile Image for Steven Ott.
83 reviews4 followers
November 26, 2024
It's a very interesting and fun book. The American economist team tries to defeat Germany by crashing their economy before and during the USA's involvement in WWII. Very interesting since I know little about economics at this level. Very fun. I learned a lot - particularly the philosophy of economics. But this book has so much more - a little for everyone. Highly recommended.
Profile Image for Jeremy Wade.
9 reviews8 followers
August 28, 2024
The history and premise are really interesting, but this doesn’t work at all as a novel. Moore tries to turn first-year econ and history lectures into scenes/dialog. It doesn’t help that I don’t care at all for the audiobook narration. If you do give this a try, stick to the text version.
Profile Image for Christie.
67 reviews
April 8, 2025
I tried taking a break and picking it back up, but in the end all the pages and pages heavily focused on the workings of economics ground any momentum of the plot to a halt.
Displaying 1 - 30 of 419 reviews

Can't find what you're looking for?

Get help and learn more about the design.