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A Piece of the Action: How the Middle Class Joined the Money Class

Amazon.com Price:  $12.34 (as of 08/05/2019 19:34 PST- Details)

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Description

Now with a new introduction describing the fallout of The united states’s consumer credit boom, 1994’s wildly acclaimed bestseller A Piece of the Action tells the story of how millions of middle class Americans went from being savers to borrowers and investors through the invention of bank cards, mutual funds, and IRAs—resulting in profound societal change.

“The united states started to change on a mid-September day in 1958, when the Bank of The united states dropped its first 60,000 bank cards on the unassuming city of Fresno, California.” So begins Joe Nocera’s riveting account of one of the vital astonishing revolutions in up to date American life—what Nocera labels “the money revolution.” In the decades since, the middle class has gained get entry to to bank cards, to mutual funds, to retirement accounts—and to hundreds of other financial vehicles that have allowed everyone to get “a piece of the action.” In this vigorous, engaging book, one of the great financial characters of up to date times—from Charles Merrill to Charles Schwab to Peter Lynch—strut across the stage as the course of this great financial shift is charted.

In an all-new introduction, Nocera takes a look back at the consequences of the money revolution. Were members of the middle class as prepared as the innovators claimed to take regulate of their financial lives? Or did events like the dot-com and the housing bubbles suggest something else: that far too many people lacked the wherewithal to make sound investment decisions?

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