A Piece of the Action
How the Middle Class Joined the Money Class
Other Editions of This Title:
“America began to change on a mid-September day in 1958, when the Bank of America dropped its first 60,000 credit cards on the unassuming city of Fresno, California.” So begins Joe Nocera’s riveting account of one of the most astonishing revolutions in modern American life—what Nocera labels “the money revolution.” In the decades since, the middle class has gained access to credit 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 lively, engaging book, some of the great financial characters of modern 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 control of their financial lives? Or did events like the dot-com and the housing bubbles suggest something else: that far too many of us lacked the wherewithal to make sound investment decisions?
Praise For A Piece of the Action: How the Middle Class Joined the Money Class…
— Michael Lewis, author of The Big Short
“Nocera is one of the most gifted observers of the business world today. It is no surprise that he has produced the definitive history of the post-World War II revolution in personal fincance and made it both vivid and comprehensive.”
— Bryan Burrough, coauthor of Barbarians at the Gate
“Everyman as financier. That’s the engaging and under-reported story that Joe Nocera shares with us in A Piece of the Action. This is not financial history, not business history: It’s a timely and superbly researched history of a dominant facet of modern American culture—one that has changed how we act, what we worry about, and who we are.”
— Tom Peters, coauthor of In Search of Excellence
“There isn’t a reader who won’t find himself or herself in . . . Nocera’s fascinating [book].”
— The Wall Street Journal
“[A Piece of the Action] fills in what is literally thirty years of missing history to the story of postwar America.”
— Los Angeles Times Book Review
“A riveting saga of the rise and rise of America’s personal finance industry—and the ferocious innovators who built it.”
“A very fine specimen of journalism . . . Nocera does succeed in breathing life into inanimate things . . . clear, accessible and engaging.”
— The New Republic
“Lively portraits of the legends of these financial industries . . . well-researched, tightly written, and full of eyewitness accounts.”
— Chicago Tribune
Simon & Schuster, 9781476744896, 480pp.
Publication Date: October 15, 2013