"Fools and Their Money"
Magazine article
By: Keyes Winter
Date: August 1927
Source: Winter, Keyes. "Fools and Their Money." Harpers Magazine, August 1927, 361–362.
About the Author: Republican Keyes Winter served as assistant attorney general of New York State.
Introduction
History is replete with examples of speculative booms that trapped the unwary: the seventeenth-century Dutch Tulip Craze, the eighteenth-century English South Sea Bubble, or the various modern-day Ponzi schemes that cheat investors out of their money. In these schemes, unsophisticated investors fall prey to inflated expectations while the "insiders" and the "smart money" have long since recognized the inevitable and have cashed out. In recent times, the "go-go" stock-market of the 1960s along with the gold and silver speculations of the late 1970s confirm showman P.T. Barnum's adage that there's a "sucker...
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1920's Lifestyles and Social Trends Primary Sources
The 1920's: Primary Sources
