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Throughout her life, playwright and diplomat Clare Boothe Luce insatiably aimed for the top. In "Rage for Fame," published in 1997, Sylvia Jukes Morris traced how a beautiful and intelligent girl, born of humble origins, married a millionaire decades her senior; transformed herself as managing editor at Vanity Fair, wrote her hit play, "The Women," married again, to Henry Luce of Time Inc. "Price of Fame" continues the second half of this amazing story, clearly capturing the successes and pathos of a narcissist infused with shame and self-hate. ("Nobody could love me who really knew me.") Fame Clare now has, but with it came personal loss: the death of her only child; of her brother; the suicide of a close friend; the disappointment in her dysfunctional marriage to Luce, her love and enemy. Their extramarital affairs, along with Clare's schemes to extract millions, is told without censure. Those millions, later bequested to institutions and charities, also significantly benefited women entering the field of mathematics, science and engineering. The book opens with Clare's election in 1942 as a Republican congressman from Connecticut. The only female member of the House Military Affairs Committee, she traveled to Europe, visiting liberated Nazi concentration camps. She crossed the aisle to work with Democrats, and is credited with advancing 18 initiatives, including human rights, equal pay, and the rehabilitation of veterans, and the creation of the Atomic Energy Commission. No fan of FDR, she said he had created a nation of "hypochondriacs, introverts and psychotics." Nonetheless, she was a friend of his wife, Eleanor (both were advocates for civil rights).

In his famous book Confusión de confusions Joseph Penso de la Vega wrote: "If one were to lead a stranger through the streets of Amsterdam and ask him where he was, he would answer 'among speculators,' for there is no corner where one does not talk shares." And, Lodewijk Petram adds, "the people of Amsterdam were talking about options, too, and forward selling, quotations and prices, risk and speculation-all relating to the trade in the shares of the Dutch East India Company (the Vereenigde Oost-Indische Compagnie, VOC), which had been established in 1602. Fortunes were made and lost, and the men who engaged in this trade were wholly in thrall to it." Petram did extensive archival research, including mining the records of active traders, to shed new light on de la Vega's account of the Amsterdam stock market. The Dutch edition of his book appeared in 2011. Columbia Business School Publishing/Columbia University Press has just released the English edition, The World's First Stock Exchange, skillfully translated by Lynne Richards. It's an engrossing tale.

Resurrecting a 45-year-old book, Bill Gates included Business Adventures: Twelve Classic Tales from the World of Wall Street on his 2014 summer reading list. His enthusiasm ("Warren Buffett recommended this book to me back in 1991, and it's still the best business book I've ever read"-and claims it's Warren Buffett's favorite business book, too) was contagious. With prodding by Gates's team, the out-of-print book was reissued as an e-book by Open Road, and as I write this post it's Amazon's #1 best seller in commerce and #2 in books. John Brooks originally published these business stories in The New Yorker, so it goes without saying that they are well written. Describing the stock market as "the daytime adventure serial of the well-to-do," Brooks devotes the first chapter to a blow-by-blow account of the "little crash" and rapid recovery that occurred in the last week of May 1962. On Monday the Dow dropped more than it had on any day except October 28, 1929. By Thursday, after the Wednesday Memorial Day holiday, it closed "slightly above the level where it had been before all the excitement began." The infrastructure in place at the time could not cope with the overwhelming trading volume. On Tuesday, May 29, "there was something very close to a complete breakdown of the reticulated, automated, mind-boggling complex of technical facilities that made nationwide stocktrading possible in a huge country where nearly one out of six adults was a stockholder. Many orders were executed at prices far different from the ones agreed to by the customers placing the orders; many others were lost in transmission, or in the snow of scrap paper that covered the Exchange floor, and were never executed at all.