1873: The First Great Depression and the Making of the Modern World
1873: The First Great Depression and the Making of the Modern World
Couldn't load pickup availability
Worldwide Delivery
30 Days Easy Return
Secure Payment
- Author: Liaquat Ahamed Format: Hardcover
Product Description
***LONGLISTED FOR THE FT BUSINESS BOOK OF THE YEAR AWARD 2026*** From the author of the Pulitzer Prize-winning Lords of Finance comes a brilliant account of the earliest truly global financial calamity. On Friday, 9 May 1873 the Vienna stock market collapsed. Four months later Wall Street was in trouble. Elsewhere, as panic selling spread across financial markets, some countries defaulted on their debts, while the Bank of England was forced to raise its rates to their highest level in a century. It was the first global crash in history. And it was to have calamitous consequences. In his powerful new book, the author of the Pulitzer Prize-winning Lords of Finance tells the epic story of that crash and explores its economic and human costs. He describes how the growth of the international bond market in the 1850s and 60s funded a frenzy of speculation in railways, construction and nation-building. He examines those who became swept up in the boom, from leading bankers like the Rothschild dynasty to national leaders both visionary and venal, to rogues and chancers like the shameless Jay Gould, to such sceptical onlookers as Mark Twain and Karl Marx. He then traces how, in the subsequent panic, investors were left with catastrophic losses, while governments on both sides of the Atlantic rushed misguidedly to reorder the worldβs financial system. As he shows, the blunders made as the crisis unfolded set the stage for twenty years of deflation, and a punitive legacy of aggrieved populism that infected every part of the globe. Amid the crashβs many aftershocks, the US abandoned Reconstruction, European powers staged an economic takeover of the heavily indebted Ottoman Empire, and the principle of international free trade came under pressure. Meanwhile there was a revival of antisemitic movements in Europe that blamed βJewish financeβ for the disaster. A brilliant evocation of a key turning point in world history, 1873 is also a masterly examination of the unforeseen political and social consequences of financial misjudgements. Read more
Customers also viewed
System Design Interview: An Insiderβs Guide β 2 Volume Set by Alex Xu
Bratva Bride (Bratva Series)
Combo of Sharadiya Suktara Pujabarshiki 2026 || 1433 & Sharadiya Anandamela Pujabarshiki 2026 || 1433 (Shuktara & Anandamela Sharadiya 1433 (2026))
The Mirror of Infinite Endings: The highly anticipated return to the No. 1 Sunday Times bestselling Once Upon a Broken Heart series and the epic love story of Jacks and Evangeline
Psychology (7th Edition) | Pearson | NEP 2020 Aligned | By Saundra K. Ciccarelli, J. Noland White & Girishwar Misra
NCERT Textbook for Class-XI & XII | Biology | 2 Books Set | 2025-26 Edition
The Critical Thinking Blueprint: A Complete Guide to Master Logic, Overcome Cognitive Biases, and Make Better Decisions
Tenida Samagra
Tarinikhuror Kirtikalap
Ramayanam Volume 2
Psychotic Obsession: Deluxe Edition
Pack of 3 : Saradiya Patrika Pujabarshiki 2026 || 1433 , Saradiya Desh Pujabarshiki 2026 || 1433 & Saradiya Anandabazar Patrika Pujabarshiki 2026 || 1433 (Sharadiya Patrika Collection)
Cattle Synchronization Protocols Guide Book (dairy farm breeding series)
Bivashika Utsav Sonkhya 2026 (Bengali Thriller Special Pujabarshiki 1433)
Bhor | Bengali Book on Paranormal Possession | Indian Supernatural Mysteries by Tamaghna Naskar | Bangla Aloukik Boi
Amateur's Mind: Turning Chess Misconceptions into Chess Mastery -- 2nd Edition
Threshing Day (Limited Deluxe Edition): Return to the Empyrean world with thirteen stories starring your favourite Fourth Wing characters.
The Chanakya Diaries | Indiaβs Premier Magazine on Geopolitics, Defence & Foreign Affairs | 2026 Monsoon Edition | 4th Issue
The 100 Year Blueprint: An Indian Doctor's Guide to Longevity
Collections
View all-
Bestselling Books Collection
Explore our top-selling books loved by readers worldwide. This collection features the...
-
Most Ordered
Explore the Most Ordered books at UniversalReads. Featuring top-rated titles across fiction,...
-
Children's Books
Discover the best Childrenβs Books at UniversalReads. From bedtime stories to early...
-
Arts & Photography
Discover inspiring Arts & Photography books at UniversalReads. From painting guides to...
