Investment Banking Revisited

Authors

  • Paul M. Sweezy

DOI:

https://doi.org/10.14452/MR-033-10-1982-03_1

Keywords:

Political Economy

Abstract

On re-reading the article "The Decline of the Investment Banker" which I contributed to volume 1, number 1 of the Antioch Review (Spring 1941), I can see that I took for granted a considerable knowledge on the part of the reader of the financial history of the United States in the late nineteenth and early twentieth centuries. That was perhaps justified at the time, but I doubt that it would be today. The Great Depression was still fresh in the minds of all readers of the Review's first issue, and the financial upheavals of the period had been personally experienced by many of them. Forty-one years later, however, what happened before the Second World War must seem, especially to younger people, like ancient history, of little general interest or relevance. An updated commentary on the subject of that earlier article therefore calls for an historical introduction.

Published

1982-03-01

Issue

Section

Review of the Month

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