In the winter of 1637, Dutch merchants bought and sold tulip bulbs they had never seen. What changed hands in the taverns of Haarlem was not the bulb but a promise — resold a dozen times in an evening, for delivery months away. They had a name for it: windhandel. The wind trade.
Four centuries later, $42 billion left Silicon Valley Bank in a single day, moved by messages in private group chats.
Between those two mornings lie nineteen crises, four centuries, and one remarkably consistent human being.
Trading the Wind is a narrative history of financial panic — from the South Sea Bubble that cost Isaac Newton a fortune, to the 1929 crash, to the mortgage that a bank handed a man with three part-time jobs and no income verification, to the banking failures of 2023 and the debt now financing the artificial intelligence boom.
It is also a book about what didn't happen. Brokers did not throw themselves from Manhattan windows in droves; the statistics say otherwise. No sailor ate a priceless tulip bulb mistaking it for an onion. Separating the documented from the merely well-loved is one of this book's central purposes.
No equations. No jargon. Just merchants, bankers, presidents and ordinary families making decisions that looked reasonable at the time and absurd a year later.
Because the ingredients are always the same: cheap credit, a convincing story, and the conviction that this time is different.
Written from Europe, about a mostly American story — which turns out to be a useful place to watch from.
Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.
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Paperback. Etat : new. Paperback. In the winter of 1637, Dutch merchants bought and sold tulip bulbs they had never seen. What changed hands in the taverns of Haarlem was not the bulb but a promise - resold a dozen times in an evening, for delivery months away. They had a name for it: windhandel. The wind trade. Four centuries later, $42 billion left Silicon Valley Bank in a single day, moved by messages in private group chats. Between those two mornings lie nineteen crises, four centuries, and one remarkably consistent human being. Trading the Wind is a narrative history of financial panic - from the South Sea Bubble that cost Isaac Newton a fortune, to the 1929 crash, to the mortgage that a bank handed a man with three part-time jobs and no income verification, to the banking failures of 2023 and the debt now financing the artificial intelligence boom. It is also a book about what didn't happen. Brokers did not throw themselves from Manhattan windows in droves; the statistics say otherwise. No sailor ate a priceless tulip bulb mistaking it for an onion. Separating the documented from the merely well-loved is one of this book's central purposes. No equations. No jargon. Just merchants, bankers, presidents and ordinary families making decisions that looked reasonable at the time and absurd a year later. Because the ingredients are always the same: cheap credit, a convincing story, and the conviction that this time is different. Written from Europe, about a mostly American story - which turns out to be a useful place to watch from. This item is printed on demand. Shipping may be from our UK warehouse or from our Australian or US warehouses, depending on stock availability. N° de réf. du vendeur 9798192893593
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Taschenbuch. Etat : Neu. Neuware - In the winter of 1637, Dutch merchants bought and sold tulip bulbs they had never seen. What changed hands in the taverns of Haarlem was not the bulb but a promise - resold a dozen times in an evening, for delivery months away. They had a name for it: windhandel. The wind trade. Four centuries later, $42 billion left Silicon Valley Bank in a single day, moved by messages in private group chats. Between those two mornings lie nineteen crises, four centuries, and one remarkably consistent human being. Trading the Wind is a narrative history of financial panic - from the South Sea Bubble that cost Isaac Newton a fortune, to the 1929 crash, to the mortgage that a bank handed a man with three part-time jobs and no income verification, to the banking failures of 2023 and the debt now financing the artificial intelligence boom. It is also a book about what didn't happen. Brokers did not throw themselves from Manhattan windows in droves; the statistics say otherwise. No sailor ate a priceless tulip bulb mistaking it for an onion. Separating the documented from the merely well-loved is one of this book's central purposes. No equations. No jargon. Just merchants, bankers, presidents and ordinary families making decisions that looked reasonable at the time and absurd a year later. Because the ingredients are always the same: cheap credit, a convincing story, and the conviction that this time is different. Written from Europe, about a mostly American story - which turns out to be a useful place to watch from. N° de réf. du vendeur 9798192893593
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