{"product_id":"1873-the-rothschilds-the-first-great-depression-and-the-making-of-the-modern-world-9781594204173","title":"1873: The Rothschilds, the First Great Depression, and the Making of the Modern World","description":"\u003cb\u003e\"A lively and compelling account . . . The cumulative effect is impressive. . . . Ahamed tells his story with an easy fluency and a high velocity.\" --Trevor Jackson, \u003ci\u003eThe New York Times Book Review \u003c\/i\u003e \u003c\/b\u003e\u003cp\u003e\u003c\/p\u003eNamed a Most Anticipated Book of 2026 by \u003ci\u003eLiterary Hub\u003c\/i\u003e \u003cp\u003e\u003c\/p\u003eFrom the author of the Pulitzer Prize-winning \u003ci\u003eLords of Finance\u003c\/i\u003e, a magnificent and timely reckoning with the first truly global financial calamity and the famous banking family at the center of the whirlwind \u003cp\u003e\u003c\/p\u003eOver the course of the 1850s and 1860s, during the first era of globalization, the world experienced an unprecedented economic boom. Fueling this expansion was an explosion in the global bond market, at the hub of which stood one family--the Rothschilds, arguably the wealthiest banking family in history. While the giant sums of capital provided through the bond market built the railroads, the century's most transformative investments, the money raised also unleashed a frenzy of speculation, massive overinvestment, and wasteful borrowing by governments. \u003cp\u003e\u003c\/p\u003eWith excessive euphoria leading to disappointed expectations, in the early 1870s the bubble burst. Stock markets from Vienna to New York crashed, and dozens of railroads and many governments defaulted. Financial officials responded by blundering into a precipitous remaking of the global currency system--exacerbating the ensuing economic collapse and setting the stage for decades of a punitive deflation that sparked waves of anti-globalist populism. As Liaquat Ahamed shows us in this enthralling history, the crisis of 1873 was, among other things, a death blow to Reconstruction in the United States and the proximate cause of the Ottoman Empire's slow death spiral. Ironically, though the Rothschilds had presciently kept a low profile during the bubble, when the deluge came, they were viciously scapegoated as part of a wider hatred directed at \"Jewish finance,\" a strain of antisemitism that would come to full evil flower during the twentieth century. \u003cp\u003e\u003c\/p\u003e\u003ci\u003e1873\u003c\/i\u003e is a bird's-eye reckoning with the full dimension of the crisis, from its buildup to its long aftermath. The Rothschilds and a cast of other witnesses give us the human perspective. And we have a brilliant financial historian's grasp of the larger forces at play, resulting in a global narrative with thrilling explanatory power.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Liaquat Ahamed\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Penguin Press\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 06\/02\/2026\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 368\u003cbr\u003e\u003cb\u003eBinding Type:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.20lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.30h x 6.40w x 1.50d\u003cbr\u003e\u003cb\u003eISBN:\u003c\/b\u003e 9781594204173\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eReview Citation(s): \u003c\/b\u003e\u003cbr\u003e\u003ci\u003ePublishers Weekly\u003c\/i\u003e 04\/06\/2026\u003cbr\u003e\u003ci\u003eKirkus Reviews\u003c\/i\u003e 05\/01\/2026\u003cbr\u003e\u003ci\u003eLibrary Journal\u003c\/i\u003e 05\/01\/2026 pg. 123\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cb\u003eLiaquat Ahamed \u003c\/b\u003egraduated with degrees in economics from Cambridge and Harvard, worked at the World Bank in Washington, D.C., and had a twenty-five career as a professional investment manager based in London and New York before turning to writing. His first book, \u003ci\u003eLords of Finance: The Bankers Who Broke the World\u003c\/i\u003e, about the lead up to the 1929 Great Depression, won the Pulitzer Prize for History, the Council on Foreign Relations Arthur Ross Gold Medal, and the \u003ci\u003eFinancial Times\u003c\/i\u003e Best Business Book of the Year Award. He is a trustee of the Putnam Funds, an adviser to the Rock Creek Group, and the Chair of the Sun Valley Writers' Conference. He lives in Los Angeles and Washington, D.C. with his wife Meena.\u003cbr\u003e","brand":"booksdeli.com","offers":[{"title":"Liaquat Ahamed \/ Hardcover \/ English","offer_id":48397121847453,"sku":"9781594204173","price":38.4,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0619\/5648\/9373\/files\/img_3bc387f3-6516-41b3-85e9-c740f1424d53.jpg?v=1781073619","url":"https:\/\/booksdeli.com\/products\/1873-the-rothschilds-the-first-great-depression-and-the-making-of-the-modern-world-9781594204173","provider":"booksdeli.com","version":"1.0","type":"link"}