The Great Crash, 1929

The Great Crash, 1929

Book - 2009
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Of Galbraith's classic examination of the 1929 financial collapse, the Atlantic Monthly said:"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." Now, with the stock market riding historic highs, the celebrated economist returns with new insights on the legacy of our past and the consequences of blind optimism and power plays within the financial community.
Publisher: Boston :, Houghton Mifflin Co.,, [2009]
Copyright Date: ©2009
ISBN: 9780547248165
Branch Call Number: 330.9730916 GA
Characteristics: xvi, 206 pages ; 21 cm


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Oct 10, 2019

Recommended by Andy stewart


Often satiric, Galbraith's comments and analysis on many aspects of the crash and ensuing depression was a very interesting read. It gave me a better sense of 'bubbles', their creation and ultimate demise, with a better understanding of our current bubbles—the “dot com” bubble of the 90’s, the housing bubble and crash in the U.S. in 2007-8, for example (and perhaps the current housing bubble in Canada that has yet to 'pop'.) He describes some of the characters involved, including bankers and politicians who contributed to the creation and destruction of the stock market enterprise of the 1920’s, and how the 1929 crash is relevant today, with our own variants of "excessive exuberance", including derivative trading and the combining of banking services with brokerage and stock trading that was similarly involved in the overheated and over-leveraged trading system of the 1920’s. It reminds me how debt has become so prevalent today and how things will have to be repaid or defaulted on in order to get back to a reasonable economy—not to mention a sustainable one, but that's a whole other kettle of fish…

Jul 02, 2010

More description than analysis of the 1929 crash, but a lot of fun to read (he sure had a dry sense of humor)


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