Can someone please give me a summary of "the great crash of 1929" by john galbraith? So many trades were made — each recorded on a slip of paper — that traders didn't know where to store them, and ended up stuffing them into trash cans. The demand for billions of dollars at once is illogical because not all the money will be stored in the bank which is why interest is received. Fuel, Assistance, The crowds on Wall Street after the stock exchange crashed. 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." Welcome! December 21, 2012. Answer Save. Just a moment while we sign you in to your Goodreads account. I'd say it's a good introduction and overall it offered a great general view on the period/phenomenon. 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. It has sardonic wit. While the US has tremendous amounts of debt, the nu.

He tries to understand the reasons for both, but maybe there are not enough comparisons to other speculative booms for his explanations to be fully convincing. As John best summarizes it: "The task of this book, as suggested on an early page, is only to tell what happened in 1929. One can only guess what this grand old man of liberal economics would have written in 2008. He is also very opinionated and judgmental, which is fun to read. The market recovered for a few months and then slid again, gliding swiftly and steadily with the rest of the country into the Great Depression. Very readable, easy to understand, it flows quite nicely.

Is neglect of sovereign debt issues not a problem today, when governments prefer to blame financial turmoil on everyone but themselves? We can, As John best summarizes it: "The task of this book, as suggested on an early page, is only to tell what happened in 1929.

Galbraith's The Great Crash 1929 is an easy read and gives historical context to the current financial mess in the U.S.

The Dow had dropped another 12%. Start by marking “The Great Crash of 1929” as Want to Read: Error rating book.

So many shares changed hands that day that traders didn't have time to record them all. 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). IBNLive. And we can perhaps see a little of the form and magnitude of the remaining peril. Galbraith does talk down the extent to which, Short and interesting story, focused on the stock market boom and crash.

Conservation | Action Energy, Gloucester, Mass." He uses his knowledge of the Great Depression and the Stock Market to explain what happened. A prolific author, he produced four dozen books & over a 1000 articles on many subjects. I have a report dure in two days. By the end of the day, the Dow had dropped 13%. 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. Relevance. ", 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. See 1 question about The Great Crash of 1929…, 40 books every self-respecting investor needs to read, Morgan Jerkins Journeys Across the USA to Retrace Black History. To see what your friends thought of this book, [ Dull and hard to read. Accessed March 14, 2015. http://en.wikipedia.org/wiki/Irving_Fisher. Galbraith wrote on how the stock market crashed because Americans began to believe that the stock market would never fall, and they could make money by doing no work.

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