A Piece of the Action: How the Middle Class Joined the Money Class
| Author | : | |
| Rating | : | 4.70 (586 Votes) |
| Asin | : | 1476744890 |
| Format Type | : | paperback |
| Number of Pages | : | 480 Pages |
| Publish Date | : | 2017-10-24 |
| Language | : | English |
DESCRIPTION:
In an all-new introduction, Nocera takes a look back at the consequences of the money revolution. Were members of the middle class as prepared as the innovators claimed to take control of their financial lives? Or did events like the dot-com and the housing bubbles suggest something else: that far too many of us lacked the wherewithal to make sound investment decisions?. Now with a new introduction describing the fallout of America’s consumer credit boom, 1994’s wildly acclaimed bestseller A Piece of the Action tells the story of how millions of middle class Americans went from being savers to borrowers and investors through the invention of credit cards, mutual funds, and IRAs—resulting in profound societal change.“America began to change on a mid-September day in 1958, when the Bank of America dropped its first 60,000 credit cards on the unassuming city of Fresno, California.” So begins Joe Nocera’s riveting account of one of the most astonishing revolutions in modern American life—what Nocera labels “the money revolution.” In the decades since, the middle class has gained access to credit cards, to mutual funds, to retirement accounts—and to hundreds of other financial vehicles that have allowed everyone to get “a piece of the action.” In this lively, engaging book, some of the great financial characters of modern times—from Charles Merrill to Charles Sc
Dennis R. Jugan said Probing the genesis of our worst financial debacle. All too often, we're content to find fault in the present and the recent past. Joe Nocera wrote the opening chapters of the "Probing the genesis of our worst financial debacle" according to Dennis R. Jugan. All too often, we're content to find fault in the present and the recent past. Joe Nocera wrote the opening chapters of the 2007 - ??? financial crisis in 199Probing the genesis of our worst financial debacle Dennis R. Jugan All too often, we're content to find fault in the present and the recent past. Joe Nocera wrote the opening chapters of the 2007 - ??? financial crisis in 1994 citing names, financial institutions, and that irreplaceable contribution to doublespeak known to all as "innovation." You'll be taken back to the 1950's where it all began and you'll learn about the ambitions, the goals and the personalities of the first wave of financial engineers. citing names, financial institutions, and that irreplaceable contribution to doublespeak known to all as "innovation." You'll be taken back to the 1950's where it all began and you'll learn about the ambitions, the goals and the personalities of the first wave of financial engineers. 007 - ??? financial crisis in 199Probing the genesis of our worst financial debacle Dennis R. Jugan All too often, we're content to find fault in the present and the recent past. Joe Nocera wrote the opening chapters of the 2007 - ??? financial crisis in 1994 citing names, financial institutions, and that irreplaceable contribution to doublespeak known to all as "innovation." You'll be taken back to the 1950's where it all began and you'll learn about the ambitions, the goals and the personalities of the first wave of financial engineers. citing names, financial institutions, and that irreplaceable contribution to doublespeak known to all as "innovation." You'll be taken back to the 1950's where it all began and you'll learn about the ambitions, the goals and the personalities of the first wave of financial engineers. L.A. Little said Excellent history of how financial products came about. In the late 60's and mainly the 1970's, a huge sea change took place in American financial history - a change so dramatic that it is still being felt today. Joseph Nocera takes a look at those dramatic changes an the figures behind them in A Piece of the Action. The book presents the story of how Americans financial future shifted from mostly employers to the individual and how government action trailed and, in some cases, badly lagged the. From a participant It may be difficult for many of you younger people to grasp how primitive many of our business practices were back only From a participant B. Ray It may be difficult for many of you younger people to grasp how primitive many of our business practices were back only 40 years ago.When I started working at Visa in 1973, those thin tissue copies of sales receipts were manually taken to the merchant's bank each evening and placed in a "drop-box". Then they were "processed" by the merchant's bank which really meant they were physically sorted into piles to be copied and sent by mail to ea. 0 years ago.When I started working at Visa in 1973, those thin tissue copies of sales receipts were manually taken to the merchant's bank each evening and placed in a "drop-box". Then they were "processed" by the merchant's bank which really meant they were physically sorted into piles to be copied and sent by mail to ea
Author tour. Faced with double-digit inflation, wildly gyrating interest rates and a sinking standard of living, consumers displayed a great willingness to take on debt. The emergence of two-income couples, adjustable-rate mortgages, credit cards and the middle class's growing participation in stocks, mutual funds and money-market accounts define what the author terms the "money revolution" of the past two decades. . The raging inflation of the late 1970s and early '80s, he argues, led many people to abandon thrift and their aversion to risk, attitudes acquired during the Depression. From Publishers Weekly In an entertaining and edifying history of personal finance, GQ columnist Nocera charts the transformation of the habits of middle-class Americans. Copyright 1994 Reed Business Information, Inc. Nocera, who believes credit overall has been a force for good in American life, fleshes out this colorful chronicle with