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The Madness of Money

JL;DR SUMMARY Frederick Kaufman's review of Liaquat Ahamed's book, "1873: The Rothschilds, the First Great Depression, and the Making of the Modern World," critiques the author's attempt to illuminate the economic complexities of the 19th century. A way out west there was a fella, fella I want to tell you about, fella by the name of Jeff Lebowski. At least, that was the handle his lovin' parents gave him, but he never had much use for it himself. This Lebowski, he called himself the Dude. Now, Dude, that's a name no one would self-apply where I come from. But then, there was a lot about the Dude that didn't make a whole lot of sense to me. And a lot about where he lived, likewise. But then again, maybe that's why I found the place s'durned innarestin'.

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Tags

Pulitzer PrizeFranco Prussian WarRothschildsEconomic HistoryFinancial CrisesLiaquat Ahamed1873Global Bond MarketJewish Banking Families

Places mentioned

Vienna, Austria
"From 1870 to 1873, the hyperactive Vienna Stock Exchange shot up 300 percent, while the more stolid investors of the London Stock Exchange were earning an average of 18 percent year in year out—and that was after accounting for inflation."
Paris, France
"During the Siege of Paris, he had made a point of establishing his military base camp at the lavish Château de Ferrières, country estate of Baron James de Rothschild."
Berlin, Germany
"Not only did petit bourgeois French citizens quite literally get in line to purchase the certificates, it was rumored that shopkeepers from Berlin and Frankfurt were vying to invest in notes owed, rather ironically, to themselves."
Frankfurt, Hesse, Germany
"Not only did petit bourgeois French citizens quite literally get in line to purchase the certificates, it was rumored that shopkeepers from Berlin and Frankfurt were vying to invest in notes owed, rather ironically, to themselves."
London, United Kingdom
"From 1870 to 1873, the hyperactive Vienna Stock Exchange shot up 300 percent, while the more stolid investors of the London Stock Exchange were earning an average of 18 percent year in year out—and that was after accounting for inflation."
India
"...when almost every bank in Europe—and a few from as far away as India—clamored to subscribe."
Kamchatka, Kamchatka Krai, Russian Federation
"Instead,he abandons Western Europe for an ever-grander purview that stretches from the silver mines of Colorado to the canals of Kamchatka."
Colorado, United States
"Instead,he abandons Western Europe for an ever-grander purview that stretches from the silver mines of Colorado to the canals of Kamchatka."

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Cairo Item ID 85928
Cairo Source ID 10
Retrieved 2026-06-23 05:31:02 UTC
Curated 2026-06-23 08:31:07 UTC