The Great Crash 1929HarperCollins, 2009 M09 10 - 226 pages John Kenneth Galbraith's classic examination of the 1929 financial collapse. Arguing that the 1929 stock market crash was precipitated by rampant speculation in the stock market, Galbraith notes that the common denominator of all speculative episodes is the belief of participants that they can become rich without work. It was Galbraith's belief that a good knowledge of what happened in 1929 was the best safeguard against its recurrence. Atlantic Monthly wrote, "Economic writings are seldom notable for their entertainment value, but this book is. Galbraith's prose has grace and wit, and he distills a good deal of sardonic fun from the whopping errors of the nation's oracles and the wondrous antics of the financial community." |
Contents
1 Vision and Boundless Hope and Optimism | |
2 Something Should be Done? | |
3 In Goldman Sachs We Tmst
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4 The Twilight of Illusion | |
5 The Crash
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6 Things Become More Serious | |
7 Aftermath I | |
8 Aftermath II | |
9 Cause and Consequence | |
Back Matter | |
Back Cover | |
Spine | |
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Common terms and phrases
American announced assets autumn of 1929 Babson bankers Blue Ridge bonds boom borrow brokers brought capital cash cent Chase close collapse committee common stock depression dropped early economic effect enterprises Federal Reserve Bank Federal Reserve Board firm Florida Frederick Lewis Allen funds gain Goldman Sachs Goldman Sachs Trading holding companies Ibid income increase industrial interest investment trust investors Irving Fisher issue J. P. Morgan Kreuger later less leverage loans March margin calls ment Mitchell months no-business November October October 24 organized panic points President Hoover prosperity Raskob reassurance rich Richard Whitney securities seemed sell Senate September Shenandoah short selling sold sound South Sea Bubble speculation Steel Stock Exchange Practices stock market crash suicide summer of 1929 things ticker tion told twenties vestment trusts volume Washington week Wiggin York Federal Reserve York Stock Exchange