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The Great Crash of 1929 #2020

The Great Crash of Of Galbraith s classic examination of the financial collapse the Atlantic Monthly said Economic writings are seldom notable for their entertainment value but this book is Galbraith s prose has

  • Title: The Great Crash of 1929
  • Author: John Kenneth Galbraith
  • ISBN: 9780395859995
  • Page: 159
  • Format: Paperback
  • The Great Crash of 1929 By John Kenneth Galbraith, 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 thOf 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.

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      John Kenneth Galbraith

    1 thought on “The Great Crash of 1929

    1. To regard the people of any time as particularly obtuse seems vaguely improper, and it also establishes a precedent which members of this generation might regret.The strength of this book is its sharp focus I read Lords of Finance which covers, broadly speaking, the same topic, but that was one of those fashionably long books that shows the reader plenty of trees, but leaves no sense of the shape of the forest How different Galbraith s book.The very narrowness and interest in precise details of [...]

    2. Even though he said that he would eventually get to talk about the causes of the great depression I have to admit that for much of this book I thought we would be just getting a series of increasingly horrible stories about the crash But this turned out to be an infinitely better book than I anticipated.There are quotable quotes If there must be madness something may be said for having it on a heroic scale Or This is the rite of the meeting which is called not to do business but to do no busines [...]

    3. For a book on economic issues this is entertaining It has sardonic wit.Mr Galbraith Canadian born by the way explores the before, then the dark days of October 1929, and the devastating aftermath.What is interesting throughout, is the constant flow of reassurances, from those who should I suppose have known better, that the economy was solid along with a multitude of similar buoyant phrases Doomsayers, and there were not many, were dismissed as charlatans The eternal optimists, even after the cr [...]

    4. Although this book was published almost sixty years ago, and it describes an event over eighty years in the past, it seems only too familiar.Galbraith describes with clarity and thoroughness the events which preceded the great crash For example A major real estate bubble Thousands of speculators were bidding for the chance to set a price on the land, not even the land itself A Mr Charles Ponzi was also heavily involved in the buzz, selling dozens of plots of real estate per acre of Florida swamp [...]

    5. I first read John Kenneth Galbraith s The Great Crash of 1929 in college or was it high school so many years ago and rereading it now, it retains its crisp narration and wittiness It is not a long book, reflecting that Galbraith concisely covers the build up to the crash and its aftermath.

    6. J K Galbraith produced his short book on the Great Stock Market Crash of 1929 in late 1954 in an atmosphere that still recalled recent witch hunts over communism a fact that will help an early twenty first century reader with some of the few obscure political references The current Penguin edition adds the short Foreword to the 1975 edition that urged memory as a necessary corrective to over enthusiasm within the financial system One can only guess what this grand old man of liberal economics wo [...]

    7. Saw this at Foyle s in London and thought it would be a nice continuation of Lefevre s Reminiscences of a Stock Operator and Krugman s Return of Depression Economics , which I was in the process of finishing.Galbraith s account of the Great Crash is gripping, and reads like the work of a slightly removed journalist than an economic historian Discussions about discount rates and public pronouncements are interwoven with samples of other news of the day Lindbergh s flight across the Atlantic, the [...]

    8. A few pages of Galbraith s writing reveals the man as a genius In my fairly limited experience, the only modern native English writer with a comparable voice for non fiction prose was Bertrand Russell.The book is a reply to the canonical history of the crash, and its relation to the succeeding Depression Galbraith shows in a handsome variety of ways, how that history contradicts many easily observed facts A better history is set out in parallel.Most satisfying is the way in which Galbraith assur [...]

    9. I read half of this book before taking it back to the library It has some good observations, but I found A Nation in Torment by Edward Ellis to be a better book I suspect the reason why most talk up this book and Galbraith in general is that he served in the FDR administration, was educated at Harvard, and takes a Keynsian approach to economics He d later serve in the Truman, Kennedy, and Johnson administrations.The book is short and slanted too much toward the bankers, in my mind Galbraith isn [...]

    10. Very readable, easy to understand, it flows quite nicely I d say it s a good introduction and overall it offered a great general view on the period phenomenon But if you are really wondering what caused the Great Depression, I would highly recommend Eichengreen s article The Origins and Nature of the Great Slump Revisited It s not as entertaining as this book, and quite frankly I greatly dislike Eichengreen s writing style, but that is the real deal.

    11. Al Smith was notified, and his sorrow over the death of his friend was not diminished by the knowledge that the news might start a serious run on their bank Galbraith s a good writer, and a witty one this was a good read There s a lot of schadenfreude to be had, as one Wall Street malefactor after another gets his comeuppance And a lot of information, as well.Of course my aim in reading this was to see what similarities there were between the 29 crash and our very own Turns out there were hella [...]

    12. An account of the stock market crash of 1929, with some very interesting observations about the relationships between finance, government and the media He also compares that crash with the one in 1987, and the parallels he draws could very easily be applied to the current financial crisis.Galbraith goes into detail on the financial structure of the investment trusts, the mechanics of financial bubbles and how those bubbles are fated to burst Although he gets into some technical financial speak t [...]

    13. Galbraith s The Great Crash 1929 is an easy read and gives historical context to the current financial mess in the U.S It was first published in 1955 and never manages to get out of print because another financial bubble bursts and people like me look for explanations Turns out people today are like people from yesterday they want to make easy money and when banks and the government encourage spendthrift behaviour and reckless speculation, people start to believe that they deserve to be rich and [...]

    14. Prof Galbraith s analysis of the 1929 Crash is thoroughly applicable to the 2008 Crash, at least to my own analysis of the current event This is truly a gem of institutional economic history My one quibble is that at the end of the book, where he tends to prescription, that he places emphasis on the speculative mood than the very real and problematic structures of leverage which make such a mood economically reasonable and profitable until the crash.

    15. The book gave a very detailed description and the various reasons that might have lead to the Great Depression, it also included a lot of details of the events like the action bankers and politicians took before the crash It did bore me a little bit toward the end because of how much information it gives you You would like this book if you enjoy American history

    16. As John best summarizes it The task of this book, as suggested on an early page, is only to tell what happened in 1929 IT is not to tell whether or when the misfortunes of 1929 will recur One of the pregnant lessons of that year will by now be plain it is that very specific and personal misfortune awaits those who presume to believe that the future is revealed to them Yet, without undue risk, it may be possible to gain from our view of this useful year some insights into the future We can distin [...]

    17. What a cool funny informative book This book was written back in the 1950 s and, while it s been revised over the years, this info is totally relevant and the they way the author has written this is quirky, funny, and not dry at all.

    18. One of those great books by liberals that can t but reaffirm one s belief in the obvious rightness of Marxism only jokingly nodded to here, but at least respected as a threat It s genuinely hilarious and read in conjunction with any book about 2008 would be bound to forcibly march someone a few steps left.

    19. In The Great Crash 1929 John Kenneth Galbraith wrote on the great depression in a manner very different from regular books discussing the topic of finance He uses his knowledge of the Great Depression and the Stock Market to explain what happened Galbraith writes on a period of time where everything seemed, but a dream, to where everything became a nightmare Americans began to gain too much confidence in the stock market, which essentially destroyed the stock market Galbraith wrote on how the st [...]

    20. Cr nica do crash bolsista de 1929, que levaria Grande Depress o, com efeitos devastadores, dento e fora dos Estados Unidos.Galbraith, que era um acad mico e um economista sagaz, procedeu a um levantamento historiogr fico com o vontade dum bom narrador, ainda por cima provido de humor o que, num tema rido como este, feito de monta n o foi em v o que John Kenneth Galbraith se deixou tentar pela fic o.A mentalidade do especulador esta fazer muito dinheiro com pouco trabalho e no mais curto espa o d [...]

    21. I was going to give this a 4 star review until I got to the final chapter where Galbraith enumerates his ideas on the cause of the Great Crash and subsequent Great Depression.Galbraith the economy was fundamentally unsound Many things were wrong, but five weaknesses seem to have had an especially intimate bearing on the ensuing disaster They are 1 The bad distribution of income Uh oh, that sounds familiar.2 The bad corporate structure The fact was that American enterprise in the twenties had ope [...]

    22. A beautiful example of mid 20th century prose If you liked the editorial style of Lewis Lapham, Alan Abelson, or William Buckley, or if you were stirred by John Kennedy s Profiles in Courage, then this book will thrill you But Galbraith also draws careful and circumspect conclusions, which gives this book a timeless quality, as if it could apply to economic catastrophes in any era.Here is Galbraith describing the use of margin loans to buy stock, which fueled the market s rise Everywhere men of [...]

    23. J.K Galbraith writes with much gusto, cynicism and humor You don t expect those kinds of things from a world class economist, the so in a book almost 60 years old But, there you have it It s a joy to read and each page, filled with indictment against the stupidity, lust and greed of those riding the wave in 28 and 29, flows easily and naturally.Mind you, this is probably not a book for those who do not have any understanding of the financial principles involved, but it may well be worth a try.T [...]

    24. I d say there are two obvious things you could include in a book about the crash The first is to detail all the crazy anecdotes about farmers becoming millionaires and people jumping out of Wall Street windows, etc, all that sensationalist stuff The second is to actually give you an understanding of why the crash happened Possibly you could have both in the same book But it felt to me that this book couldn t really decide which of those things it wanted to achieve, and kind of brushed quickly ov [...]

    25. Excellent book subject is what people are ready to do in order to gain wealth and what happens when everything goes down the drain I simplify the matter, I agree, but it is strange that exactly the same thing happened not so long ago just read the section describing the way speculations rise up and cause the entire structure to collapse what, nobody read the book Or did they think it was obsolete Highly recommended.

    26. One of the few books that Galbraith failed to make money on.But it s well worth reading because as I write this today on the 10th of December 2007, it looks like this housing bubble is going to beUNPECEDENTEDin the amount of damage done as it finally bursts.

    27. For some reason, I really like financial books I think it s important to recognize the political, sociological and psychological dynamics that go into any major economic disruption It was also interesting to recognize that the dynamics of the 2008 crisis and its aftermath didn t compare on any realistic level with 1929 Nor would the run up to 2008 really allow for us to say that it would have been another 1929 without intervention.On the other hand, it seems completely reasonable to think that c [...]

    28. I found this very interesting I finished some book recently and this popped up as a related suggestion Oddly, many years ago, during the Monica Lewinsky Clinton time, I met the author at a very small afternoon drinks session in Boston At the time I was aware that he was famous, and also aware that he came across in our short meeting as an unbearable elitist of sorts, but had always been curious Anyway, I am no economist, nor quite ready to take a scholarly stab at detailing what led to the Great [...]

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