- Publisher: Dell Pub Co (February 1982)
- Language: English
- ISBN-10: 0440168910
- ISBN-13: 978-0440168911
- Product Dimensions: 6.7 x 4.3 x 1.2 inches
- Shipping Weight: 1.6 ounces
- Average Customer Review: 4.3 out of 5 stars See all reviews (11 customer reviews)
- Amazon Best Sellers Rank: #1,781,843 in Books (See Top 100 in Books)
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Paper Money Paperback – February, 1982
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Top Customer Reviews
While he retains a bit of the wit and sparkle of his earlier books, "Smith" becomes quickly bogged down by OPEC, a force he can understand but not comprehend. His understanding comes from the historical perspective - he writes an informative and enlightening, though not entertaining, history of the organization. However, he tends to focus on the purchasing power of the OPEC countries, rather than realizing that OPEC had reached a peak in it's power by the time his book was published. Granted, we cannot expect Mr. Smith to have predicted what would happen to OPEC. On the other hand, he surely cannot have thought that the US would be reduced to supplying military equipment to the new Arabic superpowers (this, he implies, is essentially the only way we can attain anything approaching an import/export balance with Saudi Arabia).
A few chapters are spent on real estate, the market for which Mr. Smith thinks is now controlled by speculators and people attempting to hedge against inflation. He decides that the long bull market in housing has finally ended. Alas for Mr. Smith's reputation, it has yet to do so, with the median price for a home increasing every year since his book was written (as it had done every year before).
Mr. Smith, however, manages to redeem himself near the end of the book, when he makes his stock market prediction. At the time he wrote the book, the Dow was at 900. He predicted that within ten years, it would rise to 2700, an amazingly accurate guess.Read more ›
The author has a wonderful, positive voice that makes reading this economic text a pleasure.
Most Recent Customer Reviews
Learn how to use OPM (Other Peoples Money) for any business/retirement purpose. A good primer in Economics!Published 6 months ago by Robin
Adam Smith is a favorite author of mine. Excellent financial writer. Used to watch his PBS tv show. Read morePublished on March 9, 2014 by Boston suburban dweller
In the 1970s, the world economy suffered heavily from brutal spikes in the oil price.
One of the culprits was OPEC, which was formed on the model of the 'Texas Railroad... Read more
What a surprise! Just read this book to discover that the present economical crisis started when US become involved with OPEC. Read this book as if the dates were 2008. Read morePublished on November 6, 2008 by LuSan