Official Review: A Short History of Significant American ...

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Juliet+1
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Official Review: A Short History of Significant American ...

Post by Juliet+1 »

[Following is an official OnlineBookClub.org review of "A Short History of Significant American Recessions, Depressions, and Panics" by Scott Belford.]
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4 out of 4 stars
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With a worldwide economic downturn expected to result from the current Covid-19 pandemic, A Short History of Significant American Recessions, Depressions, and Panics by Scott Belford could not be timelier. Following an explanation of fundamental economic theories and terms, with particular emphasis on the difference between a recession and a depression, the book profiles twenty-five of the worst financial declines America has experienced since 1797. Each profile includes information on the duration of the event, possible causes, key politicians in office at the time, and steps taken (if any) to improve the economy.

By including descriptions of the political maneuvering around each disastrous financial event, the author provides an eye-opening view of American history. This adult version is much more enlightening than the lessons most American children learn in school. As early as 1877, for instance, President Rutherford B. Hayes recognized the contribution that income inequality can make to an economic crisis, calling it "the danger which transcends all others."

Separate chapter headings for each financial downturn allow the reader to either peruse the entire history or dip into selected historical periods according to personal preference. Detailed profiles of every political party's principles and values at each point in time are equally key to understanding the material. For example, there is a great difference between the Democratic Party of 1850 and the party of the same name in 2020. Although there are copious footnotes, the writing is not remotely in the style of an academic treatise. It is simple and direct, giving clear explanations of all specialized terminology. There are only a few typos, and they do not cause any problems with comprehension.

Altogether, this delightful book is an entertaining and educational read. The only minor criticism I could make relates to the coverage of the most recent recession, that of 2008. In this section, the author offers extensive details – complete with charts – on the "head and shoulders" pattern of stock prices preceding and announcing the recession. This type of analysis is complex and highly technical; it does not match the straightforward style of the rest of the book.

A Short History of Significant American Recessions, Depressions, and Panics deserves 4 out of 4 stars for its superb organization, understandable writing, enjoyable views of American history, and intriguing ideas about the reasons for economic crises. It is an ideal source for anyone who wants to gain a better understanding of how a country's economy works and how actions by government or private industry may affect the country as a whole and the personal finances of individuals. However, readers with advanced training in economic theory and analysis might find it a little too elementary.

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A Short History of Significant American Recessions, Depressions, and Panics
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Nwaogazie Goodness
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Post by Nwaogazie Goodness »

Nicely written review. I have little knowledge on how economy really works, I think this will be an educating read for me.
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Post by Elvis Best »

I agree. This book is very important today and cannot be timelier. Following this covid-19 era, everyone needs to prepare for the implications that might follow. Thanks for the great review.
"People are like stained-glass windows. They sparkle and shine when the sun is out, but when the darkness sets in, their true beauty is revealed only if there is a light from within." -Elisabeth Kubler-Ross
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Post by Gabrielle Sigaki »

This seems to be a great book about the American economical crisis. It's always nice to learn about more perspectives about a theme so important like that. I'm not usually interested in books like that, but maybe I'll give it a try since you gave it such a great rating. Thanks and good job!
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Post by Aleciab »

This book seems really educational, especially in this era of recession and uncertainty I believe it will assist in helping us to achieve a sustainable growth in the economy. I look forward to reading this book
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Post by Fernando222 »

This book reflects on past American economic crisis, and it could be related to the crisis caused by the COVI19 pandemic of recent. Your review is nicely detailed.
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Post by Juliet+1 »

Nwaogazie Goodness wrote: 26 Jun 2020, 11:07 Nicely written review. I have little knowledge on how economy really works, I think this will be an educating read for me.
I hope you enjoy the book; it's a really easy read. Thanks for stopping by. :D
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Juliet+1
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Post by Juliet+1 »

Elvis Best wrote: 26 Jun 2020, 16:45 I agree. This book is very important today and cannot be timelier. Following this covid-19 era, everyone needs to prepare for the implications that might follow. Thanks for the great review.
Thanks for stopping by. I appreciate your kind comment. :D
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Post by Usma Khann »

This book will definitely prove benefitting to people interested in economics and politics. As for me, I may save it for a rainy day. Appreciate the review though.🌸
Readers know it. Authors know it. Publishers know it. A promising review sells books! :roll:
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Harty Muli
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Post by Harty Muli »

It will be good to read about the historical descriptions of recessions and depression, now that we are faced with one on account of covid. Thanks for the insightful review.
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Post by Ellylion »

Sounds like a useful and educational read in our troubled times. Worth reading for sure. Thank you for a great review!
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Post by Mutai Marshal »

The globe is in the midst of a crisis. Will the economies emerge stronger? There's one answer to this. Wait!

Great review
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Post by Tonika632 »

I am not interested in economics and politics, therefore, I will not enjoy this book. Great review!
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Lisa A Rayburn
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Post by Lisa A Rayburn »

Perhaps I should be more interested in the politics surrounding our country's economic situation than I am. This book might be enlightening. Thanks for the recommendation!
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Post by Prisallen »

This sounds like a great economical history book that is, indeed, published at the right time. Thanks for your wonderful review!
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