The Great Crash 1929

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." "Most intriguing for its depiction of the delusion that swept the culture, and the ways financiers and bankers, wishful academics and supine regulators willfully ignored reality and in the process encouraged the epic collapse of the stock market." — The New York Times