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But the speculative frenzy of the eighties didn't just happen. It was the culmination of a long cycle of slow relaxation of credit practices--the subject of James Grant's brilliant, clear-eyed history of American finance. Two long-running trends converged in the 1980s to create one of our greatest speculative booms: the democratization of credit and the socialization of risk. At the turn of the century, it was almost impossible for the average working person to get a loan. In the 1980s, it was almost impossible to refuse one. As the pace of lending grew, the government undertook to bear more and more of the creditors' risk--a pattern, begun in the Progressive era, which reached full flower in the \"conservative\" administration of Ronald Reagan. Based on original scholarship as well as firsthand observation, Grant's book puts our recent love affair with debt in an entirely fresh, often chilling, perspective. The result is required--and wickedly entertaining--reading for everyone who wants or needs to understand how the world really works.\u003cbr\u003e \"A brilliantly eccentric, kaleidoscopic tour of our credit lunacy. . . . A splendid, tooth-gnashing saga that should be savored for its ghoulish humor and passionately debated for its iconoclastic analysis. It is a fitting epitaph to the credit binge of the '80s.\"--Ron Chernow, The Wall Street Journal.\u003c\/p\u003e recent love affair with debt in an entirely fresh, often chilling, perspective. The result is required--and wickedly entertaining--reading for everyone who wants or needs to understand how the world really works.\u003cbr\u003e \"A brilliantly eccentric, kaleidoscopic tour of our credit lunacy. . . . A splendid, tooth-gnashing saga that should be savored for its ghoulish humor and passionately debated for its iconoclastic analysis. It is a fitting epitaph to the credit binge of the '80s.\"--Ron Chernow, The Wall Street Journal.recent love affair with debt in an entirely fresh, often chilling, perspective. The result is required--and wickedly entertaining--reading for everyone who wants or needs to understand how the world really works.\u003cbr\u003e \"A brilliantly eccentric, kaleidoscopic tour of our credit lunacy. . . . A splendid, tooth-gnashing saga that should be savored for its ghoulish humor and passionately debated for its iconoclastic analysis. It is a fitting epitaph to the credit binge of the '80s.\"--Ron Chernow, The Wall Street Journal.recent love affair with debt in an entirely fresh, often chilling, perspective. The result is required--and wickedly entertaining--reading for everyone who wants or needs to understand how the world really works.\u003cbr\u003e \"A brilliantly eccentric, kaleidoscopic tour of our credit lunacy. . . . A splendid, tooth-gnashing saga that should be savored for its ghoulish humor and passionately debated for its iconoclastic analysis. 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Reed resigned from Congress in protest.   A larger-than-life character, Reed checks every box of the ideal biographical subject. He is an important and significant figure. He changed forever the way the House of Representatives does its business. He was funny and irreverent. He is, in short, great company. “What I most admire about you, Theodore,” Reed once remarked to his earnest young protégé, Teddy Roosevelt, “is your original discovery of the Ten Commandments.”   After he resigned his seat, Reed practiced law in New York. He was successful. He also found a soul mate in the legendary Mark Twain. They admired one another’s mordant wit. Grant’s lively and erudite narrative of this tumultuous era—the raucous late nineteenth and early twentieth centuries—is a gripping portrait of a United States poised to burst its bounds and of the men who were defining it.","brand":"WoB","offers":[{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":49653849358609,"sku":"GOR008077041","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ GOOD \/ SBYB","offer_id":50106334904593,"sku":"CIN1416544933G","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ VERY_GOOD \/ SBYB","offer_id":51325349626129,"sku":"CIN1416544933VG","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/1416544933.jpg?v=1751177747"},{"product_id":"mr-market-miscalculates-book-james-grant-9781604190083","title":"Mr Market Miscalculates","description":null,"brand":"WoB","offers":[{"title":"GB \/ GOOD \/ INTERNAL","offer_id":49659040563473,"sku":"GOR006726404","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":49729593147665,"sku":"GOR004554297","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ VERY_GOOD \/ SBYB","offer_id":50306629828881,"sku":"CIN1604190086VG","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ GOOD \/ SBYB","offer_id":52106862625041,"sku":"CIN1604190086G","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ LIKE_NEW \/ INTERNAL","offer_id":52825312657681,"sku":"GOR014631807","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/1604190086.jpg?v=1751057257"},{"product_id":"the-piggy-back-and-other-tales-of-strathspey-book-james-grant-9780950344027","title":"The piggy back and other tales of Strathspey","description":null,"brand":"WoB","offers":[{"title":"GB \/ GOOD \/ INTERNAL","offer_id":49667489202449,"sku":"GOR007687061","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":52959851086097,"sku":"GOR008206648","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/B00AJ1L3LU.jpg?v=1751045005"},{"product_id":"trouble-with-prosperity-book-james-grant-9780812924398","title":"The Trouble with Prosperity","description":"Why do we choose specific modes of transport and what are the perceived rationalities for our choice? 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