The Great Crash 1929: The classic account of financial disaster Book + PRICE WATCH * Amazon pricing is not included in price watch

The Great Crash 1929: The classic account of financial disaster Book

Rampant speculation. Record trading volumes. Assets bought not because of their value but because the buyer believes he can sell them for more in a day or two, or an hour or two. Welcome to the late 1920s in the US. There are obvious and absolute parallels to the great bull market of the late 1990s, writes Galbraith in a new introduction dated 1997. Of course, Galbraith notes, every financial bubble since 1929 has been compared to the Great Crash, which is why this book has never been out of print since it became a bestseller in 1955. Galbraith writes with great wit and erudition about the perilous actions of investors and the curious inaction of the government. He notes that the problem wasn't a scarcity of securities to buy and sell: "The ingenuity and zeal with which companies were devised in which securities might be sold was as remarkable as anything." Those words become strikingly relevant in light of revenue-negative start-up companies coming into the market each week in the 1990s, along with fragmented pieces of established companies, like real estate and bottling plants. Of course, the 1920s were different from the 1990s. There was no safety net below citizens, no unemployment insurance or Social Security. And today we don't have the creepy investment trusts--in which shares of companies that held some stocks and bonds were sold for several times the assets' market value. But, boy, are the similarities spooky, particularly the prevailing trend at the time toward corporate mergers and industry consolidations--not to mention all the partially informed people who imagined themselves to be financial geniuses because the shares of stock they bought kept going up. --Lou Schuler, Amazon.comRead More

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  • Amazon

    Examines the 'gold rush fantasy' in American psychology and describes its dire consequences. This book talks about the Florida land boom, the operations of Insull, Kreuger and Hatry, and the Shenandoah Corporation.

  • TheBookPeople

    John Kenneth Galbraith's now-classic account of the 1929 stock market collapse, The Great Crash remains the definitive book on the most disastrous cycle of boom and bust in modern times. The Great Crash 1929 examines the causes, effects, aftermath and long-term consequences of America's infamous financial meltdown, showing how rampant speculation and blind optimism sustained a market mania, and led to its terrible downward spiral. Galbraith also describes the people and the corporations at the heart of the financial community, and how they were affected by the disaster. With its depiction of the 'gold-rush fantasy' ingrained in America's psychology, this penetrating study of human greed and folly contains lessons that are still vital today - and are now more relevant than ever. 'Lively and highly readable' Financial Times 'Galbraith is a considerable writer -- admonitory, ironic, patrician, funny' Guardian 'The definitive work on the subject' Daily Mail 'A book you will read at a single sitting' Prospect 'One of the most engrossing books I have ever read' Daily Telegraph John Kenneth Galbraith (1908-2006) was a Canadian-American economist. A Keynesian and an institutionalist, Galbraith was a leading proponent of 20th-century American liberalism and progressivism. Galbraith was the author of 30 books, including The Economics of Innocent Fraud, The Great Crash: 1929, and A History of Economics.

  • BookDepository

    The Great Crash 1929 : Paperback : Penguin Books Ltd : 9780141038254 : 014103825X : 29 Oct 2009 : Examines the causes, effects, and long-term consequences of America's infamous financial meltdown, showing how rampant speculation and blind optimism sustained a market mania, and led to its terrible downward spiral. This book describes the people and corporations at the heart of the financial community, and how they were affected by the disaster.

  • Penguin

    No account of the financial insanity of 1929 has been issued in a form at once so readable, so humorous, and so carefully authenticated as this classic book. J.K. Galbraith examines the 'gold rush fantasy' in American psychology and describes its dire consequences.

  • Blackwell

    Examines the causes, effects, and long-term consequences of America's infamous financial meltdown, showing how rampant speculation and blind optimism sustained a market mania, and led to its terrible downward spiral. This book describes the people...

  • Pickabook

    John Kenneth Galbraith, John Kenneth Galbraith

  • 014103825X
  • 9780141038254
  • John Kenneth Galbraith
  • 29 October 2009
  • Penguin
  • Paperback (Book)
  • 224
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