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Studies in Macroeconomic History
Banking Panics of the Gilded Age
This is the first major study of post-Civil War banking panics in almost a century. The author has constructed for the first time estimates of bank closures and their incidence in each of the five separate banking disturbances. The author also reevaluates the role of the New York Clearing House in forestalling several panics and explains why it failed to do so in 1893 and 1907, concluding that structural defects of the National Banking Act were not the primary cause of the panics.
180 pages, Paperback
First published September 4, 2000
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May 21, 2016
I am sorely disappointed in Wicker's book. I really expected a more pragmatic view of this period instead of some school boys tale out of school how all the big bag New York bankers didn't like those other guys & JP Morgan was evil and all that typical democratic left wing tripe...and btw let's hear it for it federalism...nay internationalism but when asked how did 2008 happen Wicker, says "Uh dunno". Of course he doesn't. he really doesn't understand much. Amazing what can pass as intellectual, I guess reading with someone venerable means you are supposed to be up to snuff, but Wicker obviously did not catch most of the natterings or perhaps he's just a bad analyst. Who knows. But the long and short of it, is sign Bernanke's praises! Federalism is good, Internationalism is better because Wicker and Bernanke don't really know what's going on and the more eyes looking at the pot obviously someone will catch it..unless of course they are all paid off and it's all corrupt. DOH.
Oh well. I won't be going on for the 2nd volume on the Depression. There really isn't enough in this book, and its boringly written with lots of opinions on opinions like some legal brief, with not a wit of analysis in the pot. I think Wicker should read Prof Curl's book on Expository Writing, he may learn a thing or two. I sure didn't.
Oh well. I won't be going on for the 2nd volume on the Depression. There really isn't enough in this book, and its boringly written with lots of opinions on opinions like some legal brief, with not a wit of analysis in the pot. I think Wicker should read Prof Curl's book on Expository Writing, he may learn a thing or two. I sure didn't.
Displaying 1 of 1 review