November Classic of the Month: A Bubble That Broke the World by Garet Garrett

The names of the players are different, but these cautionary essays about massive national debt, written in the long wake of World War I and as the Great Depression was starting to make its horrible power fully known, are still fully applicable today. We are proud to announce A Bubble That Broke the World by Garet Garrett as our November Classic of the Month!

A powerful libertarian voice of the early 20th century, Garet Garrett, writing originally in the Saturday Evening Post, warned about the extension of American credit to a Europe staggering under a massive debt leftover from the financing of World War I... a situation echoed, if reversed, today as the overextended United States continues her rampant borrowing.

Collected in book form, Garrett's writings are a cry for a retreat from financial insanity, a clear-eyed look at a complicated and little understood era of financial history, and perhaps an ominous warning for today.

This book, originally published in 1932, presents a cosmology of a mass delusion which affects the mentality of the world. This takes place following World War I where the Federal Reserve System, for the first time, allowed flexible currency.

About the Author
American journalist Garet Garrett  (1878-1954) born Edward Peter Garrett, was an American journalist and author who was noted for his criticisms of the New Deal and U.S. involvement in the Second World War.

NYT Columnist Paul Krugman Highlights The Great Illusion and War in Ukraine

A recently published column in The New York Times entitled "Why We Fight Wars" by economic columnist Paul Krugman, refers to the 1910 Cosimo Classic, The Great Illusion. 


Krugman states: "A century has passed since the start of World War I, which many people at the time declared was 'the war to end all wars.' Unfortunately, wars just kept happening. And with the headlines from Ukraine getting scarier by the day, this seems like a good time to ask why." 

The Great Illusion, written by Norman Angell, argued that war destroys any wealth that conquerors may have wanted to obtain, making the whole enterprise pointless. This book was published just shortly before World War I began and obviously Angell's advice was not followed nor taken seriously then. Will Angell's and Krugman's advice be followed now before it is too late?

To read the full article by Paul Krugman, please visit The New York Times.

British journalist and politician Sir Ralph Norman Angell (1872-1967) was an executive for the World Committee against War and Fascism and a member of the executive committee of the League of Nations Union. Knighted in 1931, he was awarded the Nobel Peace Prize in 1933. For more titles on war and peace, please see Angell's other titles, including: Peace Theories and the Balkan War and The Fruits of Victory.

Series of the Month: The Literary Digest History of the World War

This summer is the centennial anniversary of the start of World War I, one which had everlasting effects on the world and its people. Throughout the period of 1914-1918, soldiers and correspondents from America, Britain, France, Germany, and others delivered ample reports from the front-lines; unlike anything society or mass media had previously known. Although most of the original publications were subjected to censorship, after the cessation of hostilities the original journals were published from their sources, such as in The Literary Digest History of the World War, a replica of the 1919 edition, is a series broken into ten illustrated volumes, curated by journalist Francis W. Halsey from journals and reports by correspondents.

The books include original maps, and illustrations illuminating readers a century later on the realities of the Great War. The series begin detailing the Western Front June 1914 and ends with the final navel battles and peace treaty in May 1920.  This series will appeal to World War I buffs, historians, and students of journalism. 

About the Author

Francis W. Halsey (October 15, 1851 – November 24, 1919) was an American journalist, editor of the New York Times, and historian from Unadilla, New York. He was the compiler and editor of his major achievement, The Literary Digest History of the World War, a series which gives an astonishing perspective on the Great War. Publication began within a year after the Peace Treaty of Versailles and Halsey died while working on the final volume.  

Cosimo offers this 10 volume series by individual volume at leading online bookstores or as a full set in hardcover or paperback, especially of interest to readers of history, collectors who'd like to expand their personal library, or professional librarians. If you are interested in purchasing the full set, please contact us.

The hardcover retail list price for this series: $339.90 but now: our price: $269.99 (you save $70 or a 20% discount!)
The paperback retail list price for this series: $131.90 but now: our price: $104.99 (you save $27 or a 20% discount!)

July Classic of the Month: The Great Illusion by Sir Norman Angell

Cosimo is happy to announce our July Classic of the Month, The Great Illusion by Sir Norman Angell.


First published in 1909, The Great Illusion sets out to answer one of the greatest questions in human history: Why is there war? Specifically, Angell wishes to discuss why there is war between the countries of Europe, which seem to always be at one another's throats. Angell refutes the belief that military power results in greater wealth and instead proposes that advanced economies based on trade and contract law can only generate value in the absence of military upset. War destroys any wealth that conquerors may have wanted to obtain, making the whole enterprise pointless. A deep understanding of this would, then, end the need for war. Perfect for those readers immersing themselves in war classics for the 100th year anniversary of World War I.


About the Author
British journalist and politician Sir Ralph Norman Angell (1872-1967) was an executive for the World Committee against War and Fascism and a member of the executive committee of the League of Nations Union. Knighted in 1931, he was awarded the Nobel Peace Prize in 1933. From 1905 to 1912, he was the Paris editor for the Daily Mail, and served as a Labour MP from 1929 to 1931. He is also the author of Peace Theories and the Balkan War and The Fruits of Victory.

Cosimo is proud to offer both paperback and hardcover editions of The Great Illusion at leading online bookstores including Barnes & Noble (paperback, hardcover), and Amazon (paperback, hardcover).