I used to be a reporter at The Wall Street Journal, where I covered markets and economics. I had a front-row seat for the dot-com boom, the financial crisis, the rise of bitcoin and cryptocurrencies, and the 2020 crash. I was immersed in money and the culture of money, and how it drives and distorts society. I regularly talked to brokers, analysts, executives, investors, politicians, and entrepreneurs. I had billionaires’ phone numbers. And being around all that made me wonder, what is money, and why do we value it so? Why is the pursuit of wealth seen as a virtue? So I started studying our culture of money.
Poggio Bracciolini’s On Avarice, written in the 1420s, marks the point where greed stopped being seen as the root of all evil and started to be seen as good.
When I first found this dialogue, I couldn’t get over how important it seemed and how completely forgotten it is. In more than two decades of covering markets and economics, I’d never come across it. Part of its obscurity is because it wasn’t translated into English until 1978, in a collection of Humanist writings called The Earthly Republic.
Yet On Avarice is a Rosetta Stone of modern greed; I felt like an archeologist reading it. Indeed, when wealth apologists attacked Zohran Mamdani this summer as he ran for mayor of New York, they unconsciously repeated Bracciolini’s exact arguments.
The gradual secularization of European society and culture is often said to characterize the development of the modern world, and the early Italian humanists played a pioneering role in this process. Here Benjamin G. Kohl and Ronald G. Witt, with Elizabeth B. Welles, have edited and translated seven primary texts that shed important light on the subject of "civic humanism" in the Renaissance.
Included is a treatise of Francesco Petrarca on government, two representative letters from Coluccio Salutati, Leonardo Bruni's panegyric to Florence, Francesco Barbaro's letter on "wifely" duty, Poggio Bracciolini's dialogue on avarice, and Angelo Poliziano's vivid history of…
The publisher at my first newspaper job, the Verona-Cedar Grove (NJ) Times in the early ‘90s, was the wife of a guy who was in Ivan Boesky’s insider-trading circle in the 1980s and was named in this book. I read it for that reason alone back when it came out.
I didn’t know much about Boesky or Michael Milken or any of that Wall Street stuff. I was just interested in my publisher’s husband. But the book was so good, I kept reading. It was so comprehensive and so detailed and so well-written, even without being interested in business (at the time) I loved it, and still have my 30-year old edition.
Chronicles the dealings of four men who wreaked havoc with the American securities system--Michael Milken, Ivan Boesky, Martin Siegel, and Dennis Levine
The first “how to” business book, and what surprised me about it was how, for Cotrugli, being a good merchant was as much about being morally upright as about being profitable.
He spends as much time telling merchants how to pray as he does how to handle their ledgers (the book is historically famous for being the first European work to explain double-entry bookkeeping).
What I found fascinating about this book is how modern Cotrguli sounds; maybe it’s the work of the translators, but he comes across as somebody you could talk to today. And he is impassioned with his main preoccupation: how to both pursue material wealth and still be a good person. He’s trying to walk a line between greed and God, and that still matters today.
This is the first English translation of Benedetto Cotrugli's The Book of the Art of Trade, a lively account of the life of a Mediterranean merchant in the Early Renaissance, written in 1458. The book is an impassioned defense of the legitimacy of mercantile practices, and includes the first scholarly mention of double-entry bookkeeping. Its four parts focus respectively on trading techniques, from accounting to insurance, the religion of the merchant, his public life, and family matters.
Originally handwritten, the book was printed in 1573 in Venice in an abridged and revised version. This new translation makes reference to the…
I’ll be honest: I don’t like Ayn Rand. I think she is a bad writer and a worse philosopher.
But I also can’t think of a book that better illustrates how, in the last century, we became a society that embraces greed and reveres the pursuit of wealth than Atlas Shrugged. Rand romanticizes a world where people are selfish, where empathy is weakness, where money is literally a religion, and the only thing worth pursuing.
It’s a maddening novel, but it lays the groundwork for the reality that would become Den of Thieves. I did not read every word; certainly not every word of John Galt’s nauseating 60-page (60 pages!) diatribe of a speech.
I wouldn’t recommend reading every word. But I do recommend reading (most of) it.
Published in 1957, Atlas Shrugged was Ayn Rand's greatest achievement and last work of fiction. In this novel she dramatizes her unique philosophy through an intellectual mystery story that integrates ethics, metaphysics, epistemology, politics, economics, and sex. Set in a near-future U.S.A. whose economy is collapsing as a result of the mysterious disappearance of leading innovators and industrialists, this novel presents an astounding panorama of human life-from the productive genius who becomes a worthless playboy...to the great steel industrialist who does not know that he is working for his own destruction...to the philosopher who becomes a pirate...to the woman who…
I started working for Dow Jones Newswires during the dot-com boom and saw how greed could drive markets. I worked through the housing boom in the Aughts and the financial crisis, and then started covering bitcoin around 2013. So by the time I got to Lewis’s book, I had a good understanding of how people can become obsessed with money.
But Lewis is just such a good writer, and has such insights into how markets work, that a book about bond buyers in the 1980s still feels like it’s about people trading so many other things today.
Michael Lewis was fresh out of Princeton and the London School of Economics when he landed a job at Salomon Brothers, one of Wall Street's premier investment firms. During the next three years, Lewis rose from callow trainee to bond salesman, raking in millions for the firm and cashing in on a modern-day gold rush. Liar's Poker is the culmination of those heady, frenzied years-a behind-the-scenes look at a unique and turbulent time in American business. From the frat-boy camaraderie of the forty-first-floor trading room to the killer instinct that made ambitious young men gamble everything on a high-stakes game…
The Almightier is a history of money told from a unique vantage point: its history as a product of religion. Money first appeared as a system employed by temple scribes in ancient Mesopotamia. It was a way for the temple, the literal and figurative center of life, to keep track of all its possessions. From the start, having money has been seen as a sign of the gods’ favor.
And the conduit through which men have practiced their money religion is greed. Greed was always controversial, the root of all evil, but over the past six centuries, greed has been rehabilitated, accepted. Today, the pursuit of wealth is seen as a virtue. A major theme in the book is tracing the gentrification of greed.
