2 of 2 people found the following review helpful
This review is from: Age of Greed: The Triumph of Finance and the Decline of America, 1970 to the Present (Hardcover)
"Age of Greed" is a remarkable compendium of the political and business developments that culminated in the 2008 meltdown of the financial system. It is biographically based on the central characters involved from the Nixon administration through the recent financial crisis that peaked in 2008 and includes economists (such as Milton Friedman); presidents (Nixon and Reagan), Fed Chairmen (Burns, Volker and Greenspan); and various financial players, dishonest (Boesky and Milken) as well as just greedy (too many to name).
When presented the way Madrick has, the sheer enormity and variety of the disfunction of the financial part of our economy is mind boggling. The political context (the rise of laissez faire market driven economics) with the deregulation of the Carter, Reagan, Clinton and Bush administrations unifies the financial chaos. This book makes an overwhelming case by simply presenting the players as each one acting as a piece of a jigsaw puzzle that results in an overwhelming realization on the part of the reader that we have been living through a sea change and we are in waters that are more treacherous than we ever imagined.
"Age of Greed" is one of the best books I have read on the U.S. economy in the age of financialization and globalization.