The Money Manias: The Eras of Great Speculation in America 1770-1970

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A recreation of the periods of great risk and speculation in American history, this original and fascinating book explores the giant Vandalia land venture that involved George Washington in the last quarter of the eighteenth century, the disastrous canal-building schemes that enticed investors during the 1880s, the giant steel company consolidations that were formed at the turn of the century, the ill-facted Florida land boom of the 1920s, and the recent conglomerate craze. Robert Sobel traces the vicissitudes of investor sentiment at each succeeding folly. The Money Manias is an anatomy of American speculation that provides an interesting perspective on the American risk-taking and entrepreneurial character.