Author: John Kenneth Galbraith

“The Great Crash 1929” by John Kenneth Galbraith is a classic examination of the stock market crash of 1929 and its aftermath. Here are some key points from the book:

1. Historical Context: Galbraith provides a detailed account of the events leading up to the crash, including the economic conditions and speculative behaviors that contributed to the bubble.
2. Analysis of Causes: The book delves into the various factors that caused the crash, such as excessive speculation, margin buying, and the lack of regulatory oversight.
3. Impact and Consequences: Galbraith discusses the immediate and long-term effects of the crash on the economy, including the Great Depression that followed.
4. Writing Style: Despite the serious subject matter, Galbraith’s writing is noted for its wit and engaging prose, making the book both informative and entertaining.
5. Lessons Learned: The book also reflects on the lessons that can be learned from the crash, emphasizing the importance of financial regulation and the dangers of speculative bubbles.

Overall, “The Great Crash 1929” is praised for its insightful analysis and accessible writing style, making it a valuable read for anyone interested in economic history and financial markets.