Money of the Mind: How the 1980s Got That Way
Title: Money of the Mind: How the 1980s Got That Way Author: James L Grant ISBN: 9780374524012 Publisher: Farrar, Straus and Giroux Published: 1994 Binding: Paperback Language: English Condition: Used: Good Y 1634295 Publisher Description: The 1980s witnessed a lemming-like rush into the sea of debt on the part of the American industrial and financial communities, with consequences we are only beginning to appreciate. 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