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A History of Interest Rates [Paperback]

Henry Kaufman , Sidney Homer , Richard Sylla
5.0 out of 5 stars  See all reviews (1 customer review)

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Book Description

1 April 1996
The late Sidney Homer published the First Edition of A History of Interest Rates in 1963 because he believed that a comprehensive history of this universal and basic economic and commercial price was necessary. Now in its Fourth Edition, A History of Interest Rates has become a classic in the fields of economics and finance.This one-of-a-kind guide presents a readable account of interest rate trends and lending practices spanning over four millennia of economic history. Filled with in-depth insights and illustrative charts and tables, this updated Fourth Edition provides a historical perspective of interest rate movements as well as a new chapter of contemporary material and added discussions of interest rate developments over the past ten years.A sampling of eras and areas covered include: Ancient Times: Mesopotamia, Greece, and RomeMedieval Times and Renaissance Europe: Italy, Spain, Germany, France, and moreModern Europe and North America to 1900: England, France, and other European countries, as well as the United StatesEurope and North America since 1900: England, France, Germany, and Italy, as well as Canada and the United StatesOther countries and regions in the 1900s: Japan, Russia, China, and Latin America

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Product details

  • Paperback: 712 pages
  • Publisher: Rutgers University Press; Revised edition (1 April 1996)
  • Language: English
  • ISBN-10: 0813522889
  • ISBN-13: 978-0813522883
  • Product Dimensions: 23.1 x 15.1 x 4.3 cm
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon Bestsellers Rank: 1,850,325 in Books (See Top 100 in Books)

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Most Helpful Customer Reviews
5 of 8 people found the following review helpful
By A Customer
Format:Paperback
Financial assets grow in value with the passage of time. For debt, we call this "interest", and for equity, we call it "yield". Homer's book is the superbly recorded history of this phenomenon. Perhaps its greatest value is that when you hear or read a new theory, you can assess its validity by comparing the theory's implications with the historical evidence.
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Amazon.com: 5.0 out of 5 stars  4 reviews
22 of 26 people found the following review helpful
5.0 out of 5 stars Pure History, Little Insight 3 Jan 2005
By Empire City - Published on Amazon.com
Format:Paperback|Verified Purchase
Sidney Homer delivers what he promised - a lengthy and extremely detailed history of interest rates. Almost completely absent is any commentary on why interest rates have changed through history. Any observations of cause and effect are left up to the reader to discern. But as a pure history text, the book is readable and thorough both in breadth and depth.
21 of 27 people found the following review helpful
5.0 out of 5 stars Opening a Window to Fixed Income Securities of Eras Past 3 April 2004
By Melvin Sico - Published on Amazon.com
Format:Paperback
This exceptionally written, highly readable volume, written by a true pioneer in bond trading and fixed income research, covers interest rate trends and lending practices spanning over four millennia of economic history. Despite the paucity of data prior to the Industrial Revolution, the book manages to present a highly detailed analysis of money markets and borrowing practices in major economies. A History of Interest Rates seeks to provide a helicopter perspective of interest rate movements, avoiding anecdotal indications if possible and applying analytical tools such as yield curves and decennial averaging of the available data.
Homer asserts that "the free market long-term rates of interest for any industrial nation, properly charted, provide a sort of fever chart of the economic and political health of that nation." Given the unprecedented rise in asset price volatility and the emergence of extraordinary inflation rates during twentieth-century episodes of economic distress--occurrences which were nearly imponderable during the nineteenth century--it would seem that we are now living in times of eschatological excess, which is actually one of the understated themes in this book's third edition.
This book should be part of the library of every investment analyst, together with such finance classics as Graham and Dodd's Security Analysis and Lefevre's Reminiscences of a Stock Operator.
19 of 29 people found the following review helpful
5.0 out of 5 stars One of the ten books every speculator should read. 4 May 1998
By brockman@earthlink.net - Published on Amazon.com
Format:Paperback
Financial assets grow in value with the passage of time. For debt, we call this "interest", and for equity, we call it "yield". Homer's book is the superbly recorded history of this phenomenon. Perhaps its greatest value is that when you hear or read a new theory, you can assess its validity by comparing the theory's implications with the historical evidence.
1 of 10 people found the following review helpful
5.0 out of 5 stars Exactly as Advertised 30 Jan 2010
By D. Greenhaus - Published on Amazon.com
Format:Paperback|Verified Purchase
The book came in a timely fashion and its condition was exactly as the seller said it would be. Would buy again! Thanks!
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