A “stimulating” account of the capitalists who changed America
in the late 19th and early 20th centuries, setting the stage for
the 1929 crash and Great Depression (Kirkus Reviews). In the
decades following the Civil War, America entered an era of
unprecedented corporate expansion, with ultimate financial power in
the hands of a few wealthy industrialists who exploited the system
for everything it was worth. The Rockefellers, Fords, Morgans, and
Vanderbilts were the “lords of creation” who, along with
like-minded magnates, controlled the economic destiny of the
country, unrestrained by regulations or moral imperatives. Through
a combination of foresight, ingenuity, ruthlessness, and greed,
America’s giants of industry remolded the US economy in their own
image. They established their power and authority, ensuring that
they—and they alone—would control the means of production,
transportation, energy, and commerce—creating the conditions for
the stock market collapse of 1929 and the Great Depression that
followed. As modern society continues to be affected by wealth
inequality and cycles of boom and bust, it’s as important as ever
to understand the origins of financial disaster, and the policies,
practices, and people who bring them on. The Lords of Creation,
first published when the catastrophe of the 1930s was still
painfully fresh, is a fascinating story of bankers, railroad
tycoons, steel magnates, speculators, scoundrels, and robber
barons. It is a tale of innovation and shocking exploitation—and
a sobering reminder that history can indeed repeat itself.
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