In 1923, with its currency effectively worthless (the exchange rate in December of that year was one dollar to 4,200,000,000,000 marks), the German republic was all but reduced to a barter economy. Expensive cigars, artworks, and jewels were routinely exchanged for staples such as bread; a cinema ticket could be bought for a lump of coal; and a bottle of paraffin for a silk shirt. People watched helplessly as their life savings disappeared and their loved ones starved. Germany’s finances descended into chaos, with severe social unrest in its wake. Money may no longer be physically printed and distributed in the voluminous quantities of 1923. However, “quantitative easing,” that modern euphemism for surreptitious deficit financing in an electronic era, can no less become an assault on monetary discipline. Whatever the reason for a country’s deficit necessity or profligacy, unwillingness to tax or blindness to expenditure it is beguiling to suppose that if the day of reckoning is postponed economic recovery will come in time to prevent higher unemployment or deeper recession. What if it does not? Germany in 1923 provides a vivid, compelling, sobering moral tale.

    He reveals for the first time the details of the family's vast political network, which gave it access to and influence over many of the greatest statesmen of the age. And he tells a family saga, tracing the importance of unity and the profound role of Judaism in the lives of a dynasty that rose from the confines of the Frankfurt ghetto and later used its influence to assist oppressed Jews throughout Europe. A definitive work of impeccable scholarship with a thoroughly engaging narrative, 'The House of Rothschild' is a biography of the rarest kind, in which mysterious and fascinating historical figures finally spring to life.

    They forged economic dynasties, built mansions and estates, assembled libraries, endowed charities, and advised a German kaiser and two American presidents. But their very success made the Warburgs lightning rods for anti-Semitism, and their sense of patriotism became increasingly dangerous in a Germany that had declared Jews the enemy.Ron Chernow's hugely fascinating history is a group portrait of a clan whose members were renowned for their brilliance, culture, and personal energy yet tragically vulnerable to the dark and irrational currents of the twentieth century.

    William Manchester's account of the rise and fall of the Krupp dynasty is history as it should be written, alive with all its terrifying power.

    But he was much more; he had an itellectual ascendancy over all the politicians of his day, and his superiority was acknowledged not only by his own people, but by all European statesmen.The unification of Germany, the defeat of Austria, the fall of the Second Empire, the defeat of France, the alliance of the German Empire and the Habsburg Monarchy, the dismemberment of Denmark—these are his most obvious achievements; no less important was the transformation in the national consciousness of the German people, for which Bismarck was also responsible. Dr. Eyck has analyzed not only the personality but also the accomplishments of a statesman whose influence on Europe in the latter half of the nineteenth century was more far-reaching than that of any other man in his time.This edition contains minor corrections and a new foreword by the author's son Frank Eyck, also a nineteenth-century historian, evaluating some of the important publications in the field since the book appeared and illuminating his father's attitude to Bismarck.

    Craig, author of several distinguished books including The Politics of the Prussian Army 1640-1945 ('55), has written a magisterial history of Germany from Prussia's 1866 triumph over Austria at Koeniggroetz to the destruction of the 3rd Reich in 1945. His story focuses upon the two dominating personalities of the period: Bismarck, the "great star" whose genius & penetration are undeniable, but whose achievement "had its 'night side' as well as its 'day side,'" & Hitler, who, unlike the Iron Chancellor, was "sui generis a force without a real historical past." Craig agrees with Dahrendorf (Society & Democracy in Germany) that, paradoxically, it was precisely because he lacked roots in tradition that Hitler could destroy the major obstacle to its progress towards a liberal modernity--"the conservative-militaristic concern that had dominated politics in the Wilhelmine period, done everything possible to shorten the life of the Weimar Republic & elevated him to power in 1933." The concentration on these two figures in no way represents a failure to appreciate institutional, economic & social factors of development. A major part of the story--the place & treatment of women under the Empire, Weimar & Hitler--receives an overdue coherent treatment as do religion & education. Craig (J.E. Wallace Sterling Professor of the Humanities, Stanford) displays an equally keen appreciation of the role of culture. In particular, he forcefully portrays the flight from political responsibility which was characteristic of most artists & intellectuals under the Empire & which marred the splendid cultural achievements of Weimar as well. The combination of his learning with his gracefully lucid style has yielded a work of historical synthesis more readable & better organized than any book of comparable scope.--Kirkus (edited)

    Iron Kingdom traces Prussia's involvement in the continent's foundational religious and political conflagrations: from the devastations of the Thirty Years War through centuries of political machinations to the dissolution of the Holy Roman Empire, from the enlightenment of Frederick the Great to the destructive conquests of Napoleon, and from the "iron and blood" policies of Bismarck to the creation of the German Empire in 1871, with all that implied for the tumultuous twentieth century.

    Massie has written a richly textured and gripping chronicle of the personal and national rivalries that led to the twentieth century's first great arms race. Massie brings to vivid life, such historical figures as the single-minded Admiral von Tirpitz, the young, ambitious, Winston Churchill, the ruthless, sycophantic Chancellor Bernhard von Bulow, and many others. Their story, and the story of the era, filled with misunderstandings, missed opportunities, and events leading to unintended conclusions, unfolds like a Greek tratedy in his powerful narrative. Intimately human and dramatic, DREADNOUGHT is history at its most riveting.

    Together, they presided over the last years of dynastic Europe and the outbreak of the most destructive war the world had ever seen, a war that set twentieth-century Europe on course to be the most violent continent in the history of the world.Miranda Carter uses the cousins' correspondence and a host of historical sources to tell the tragicomic story of a tiny, glittering, solipsistic world that was often preposterously out of kilter with its times, struggling to stay in command of politics and world events as history overtook it. George, Nicholas and Wilhelm is a brilliant and sometimes darkly hilarious portrait of these men--damaged, egotistical Wilhelm; quiet, stubborn Nicholas; and anxious, dutiful George--and their lives, foibles and obsessions, from tantrums to uniforms to stamp collecting. It is also alive with fresh, subtle portraits of other familiar figures: Queen Victoria--grandmother to two of them, grandmother-in-law to the third--whose conservatism and bullying obsession with family left a dangerous legacy; and Edward VII, the playboy "arch-vulgarian" who turned out to have a remarkable gift for international relations and the theatrics of mass politics. At the same time, Carter weaves through their stories a riveting account of the events that led to World War I, showing how the personal and the political interacted, sometimes to devastating effect.For all three men the war would be a disaster that destroyed forever the illusion of their close family relationships, with any sense of peace and harmony shattered in a final coda of murder, betrayal and abdication.

    But what if this was not the case? What if the war had its roots in Germany's weakness, not its strength? This is the radical argument in this pathbreaking book, the first account of the Nazi era for the twenty-first century and our globalized world.There was no aspect of Nazi power untouched by economics, yet Adam Tooze is the first to place economics alongside race and politics at the heart of the story of the Third Reich. And America, in Tooze's view, is the true pivot for Hitler's epic challenge to a shift in the world order. Hitler intuitively understood how Germany's relative poverty in the 1930s was the result not just of global depression, but also of Germany's limited resources. He predicted the dawning of a globalized world in which Europe would be crushed by America's overwhelming power, against which he saw only one last chance: a German super-state dominating Europe. Doing what Europeans had done for three centuries, he sought to carve out an imperial hinterland through one last land grab to the east, to give him the self-sufficiency to prevail in the coming superpower competition. With the odds stacked against him, he launched his underresourced armies on their unprecedented and ultimately futile rampage across Europe.Hitler knew by the summer of 1939 that his efforts to prepare for a long war with the West were doomed to failure. Ideology drove him forward. Hitler became convinced that Jewish elements in Washington, London, and Paris were circling round him, and from 1938, the international "Jewish question: was synonymous with America in his mind. Even in the summer of 1940, at the moment of Germany's greatest triumphs, Hitler was still haunted by the looming threat of Anglo-American air and sea power, orchestrated by, he believed, the world Jewish conspiracy.Tooze also casts a stark new light on Albert Speer's role in sustaining the Third Reich to its bloody end, after the catastrophe of the Soviet invasion. Speer, Tooze proposes, was no apolitical agent of technocratic efficiency but a Hitler loyalist who would stop at nothing to continue a hopeless battle of attrition, at the cost of tens of millions of lives.The Wages of Destruction is a chilling work of originality and tremendous scholarship that will fundamentally change the way in which we view Nazi Germany and the Second World War.

    No family in the past two centuries has been so constantly at the center of Europe's great events, has featured such varied and spectacularpersonalities, has had anything close to the wealth of the Rothschilds. In Frederic Morton's classic tale, the family is brought vividly to life. Here you'll meet characters as lively as you can imagine: Mayer, long-time advisor to Germany's princes, who broke through the barriers of a Frankfurtghetto and placed his family on the road to wealth and power; Lord Alfred, who maintained a private train, private orchestra (which he conducted), and private circus (of which he was ringmaster); Baron Philippe, whose rarefied vintages bear labels created by great artists, among them Picasso, Dali,and Haring; and Kathleen Nica Rothschild de Koenigswarter, the "jazz baroness," in whose arms Charlie Parker died. The family itself has been at the center of some of the most crucial moments in history: the defeat of Napoleon at Waterloo, the development of the Suez Canal, the introduction of Jewsin the House of Lords. Through it all, the Rothschild name has continued to represent the family ideal: a shrewd business and financial sense, activity in the Jewish community and the arts, and an always luxurious-and often eccentric-lifestyle. Nominated for a National Book Award when it was first published in 1962, Frederic Morton's The Rothschllds is here reissued with a new afterword by the author, bringing the tale of this extraordinary family to the present.

    In fact, as Liaquat Ahamed reveals, it was the decisions taken by a small number of central bankers that were the primary cause of the economic meltdown, the effects of which set the stage for World War II and reverberated for decades. In Lords of Finance, we meet the neurotic and enigmatic Montagu Norman of the Bank of England, the xenophobic and suspicious Émile Moreau of the Banque de France, the arrogant yet brilliant Hjalmar Schacht of the Reichsbank, and Benjamin Strong of the Federal Reserve Bank of New York, whose façade of energy and drive masked a deeply wounded and overburdened man. After the First World War, these central bankers attempted to reconstruct the world of international finance. Despite their differences, they were united by a common fear—that the greatest threat to capitalism was inflation— and by a common vision that the solution was to turn back the clock and return the world to the gold standard. For a brief period in the mid-1920s they appeared to have succeeded. The world’s currencies were stabilized and capital began flowing freely across the globe. But beneath the veneer of boom-town prosperity, cracks started to appear in the financial system. The gold standard that all had believed would provide an umbrella of stability proved to be a straitjacket, and the world economy began that terrible downward spiral known as the Great Depression. As yet another period of economic turmoil makes headlines today, the Great Depression and the year 1929 remain the benchmark for true financial mayhem. Offering a new understanding of the global nature of financial crises, Lords of Finance is a potent reminder of the enormous impact that the decisions of central bankers can have, of their fallibility, and of the terrible human consequences that can result when they are wrong.

    What rises from these pages is a complex giant of a man: a hypochondriac with the constitution of an ox, a brutal tyrant who could easily shed tears, a convert to an extreme form of evangelical Protestantism who secularized schools and introduced civil divorce. Bismarck may have been in sheer ability the most intelligent man to direct a great state in modern times. His brilliance and insight dazzled his contemporaries. But all agreed there was also something demonic, diabolical, overwhelming, beyond human attributes, in Bismarck's personality. He was a kind of malign genius who, behind the various postures, concealed an ice-cold contempt for his fellow human beings and a drive to control and rule them. As one contemporary noted: the Bismarck regime was a constant orgy of scorn and abuse of mankind, collectively and individually.In this comprehensive and expansive biography--a brilliant study in power--Jonathan Steinberg brings Bismarck to life, revealing the stark contrast between the Iron Chancellor's unmatched political skills and his profoundly flawed human character.

    Today, the Fed is the bedrock of the financial landscape, yet the fight to create it was so protracted and divisive that it seems a small miracle that it was ever established. For nearly a century, America, alone among developed nations, refused to consider any central or organizing agency in its financial system. Americans’ mistrust of big government and of big banks—a legacy of the country’s Jeffersonian, small-government traditions—was so widespread that modernizing reform was deemed impossible. Each bank was left to stand on its own, with no central reserve or lender of last resort. The real-world consequences of this chaotic and provincial system were frequent financial panics, bank runs, money shortages, and depressions. By the first decade of the twentieth century, it had become plain that the outmoded banking system was ill equipped to finance America’s burgeoning industry. But political will for reform was lacking. It took an economic meltdown, a high-level tour of Europe, and—improbably—a conspiratorial effort by vilified captains of Wall Street to overcome popular resistance. Finally, in 1913, Congress conceived a federalist and quintessentially American solution to the conflict that had divided bankers, farmers, populists, and ordinary Americans, and enacted the landmark Federal Reserve Act.Roger Lowenstein—acclaimed financial journalist and bestselling author of When Genius Failed and The End of Wall Street—tells the drama-laden story of how America created the Federal Reserve, thereby taking its first steps onto the world stage as a global financial power. America’s Bank showcases Lowenstein at his very finest: illuminating complex financial and political issues with striking clarity, infusing the debates of our past with all the gripping immediacy of today, and painting unforgettable portraits of Gilded Age bankers, presidents, and politicians.Lowenstein focuses on the four men at the heart of the struggle to create the Federal Reserve. These were Paul Warburg, a refined, German-born financier, recently relocated to New York, who was horrified by the primitive condition of America’s finances; Rhode Island’s Nelson W. Aldrich, the reigning power broker in the U.S. Senate and an archetypal Gilded Age legislator; Carter Glass, the ambitious, if then little-known, Virginia congressman who chaired the House Banking Committee at a crucial moment of political transition; and President Woodrow Wilson, the academician-turned-progressive-politician who forced Glass to reconcile his deep-seated differences with bankers and accept the principle (anathema to southern Democrats) of federal control. Weaving together a raucous era in American politics with a storied financial crisis and intrigue at the highest levels of Washington and Wall Street, Lowenstein brings the beginnings of one of the country’s most crucial institutions to vivid and unforgettable life. Readers of this gripping historical narrative will wonder whether they’re reading about one hundred years ago or the still-seething conflicts that mark our discussions of banking and politics today.

    Here in an abridged edition.