The Great Crash 1929 by John Kenneth Galbraith, John Kenneth Galbraith (Introduction)
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(Paperback - Revised)
- Pub. Date: April 1997
- 206pp
- Sales Rank: 21,550
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Product Details
- Pub. Date: April 1997
- Publisher: Houghton Mifflin Harcourt
- Format: Paperback, 206pp
- Sales Rank: 21,550
- ISBN-13: 9780395859995
- ISBN: 0395859999
- Edition Description: Revised
Synopsis
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." Originally published in 1955, Galbraith's book has risen once again as Americans look for perspective on the current global financial crisis. This new edition will be published on the 80th anniversary of the Great Crash with a new introduction by the author's son, economist, James K. Galbraith. He is the author of The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too.
Annotation
Widely and admiringly reviewed as a bestseller in 1955, John Galbraith's "skilled chronicle and analysis of the causes of that most memorable year in our economic history, 1929, " (St. Louis Post-Dispatch) put the past in perspective. Now with a new introduction, it has become even more timely in the aftermath of the 1987 stock market crash.
More Reviews and RecommendationsBiography
John Kenneth Galbraith (1908-2006) was a critically acclaimed author and one of America's foremost economists. His most famous works include The Affluent Society, The Good Society, and The Great Crash. Galbraith was the receipient of the Order of Canada and the Robert F. Kennedy Book Award for Lifetime Achievement, and he was twice awarded the Presidential Medal of Freedom.
Customer Reviews
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- Ratings: 12Reviews: 6
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hard to readby Dee-D
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August 06, 2009: I just finished this one and although it is highly informative and especially detailed his type of writing and his word usage are pretty distracting. Some of the words i looked up in there werent even in the dictionary?? so i guess thats attributed to it being a sort of ancient book. but otherwise if those two things dont bother you its prettu funny too he is not overly factual writer...but he tends to go over the stock markets points going up and down for a couple pages throughout the book...kind of a drag...but its and ok book its excellent for those who want to learn about the events leading up to the stock market crash of 1929....i would suggest looking up some basic terminology in economics tho...and of course having the hindsight into that eras important people and what they were involved with. this book gives mention but it is as if already expecting the reader to know most of it.....
Fine study of the great crash of 2007 (whoops, 1929)by Willp
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May 14, 2009: Galbraith's classic study of the Great Crash of 1929 retains all its freshness, and has some lessons for us today, faced as we are with a repeat.
Wall Street was, as usual, betting with other people's money, and they began to believe their own hype, that the US economy had reached a new stage, when prices would always rise.He observed that the US economy was basically unsound because of huge inequality (the rich have larger shifts in their spending), bad corporate structure ('a kind of flood tide of corporate larceny'), a similarly bad banking structure and bad policy - raising taxes and cutting spending. The government and its tame economists focused on beating inflation, when "instead of inflation the country was experiencing the most violent deflation in the nation's history."The Harvard Economic Society said in November 1929, "a serious depression like that of 1920-21 is outside the range of probability. We are not facing protracted liquidation." For two more years, the Society forecast recovery. As Galbraith noted, "this view the Society reiterated until it was liquidated." Wall Street's failure harmed the real economy. In 1938, one in five was still out of work. Some blamed 'mob psychology', but it was not the 'mob' that ran the Wall Street casino. The 'speculative orgy' of the greedy few ruined everyone's lives.I Also Recommend: Stablizing an Unstable Economy, John Maynard Keynes, Globalization and Its Discontents, Economics in a Changed Universe.
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