The Great Crash of 1929

John Kenneth Galbraith

Book Reviews

Warren Buffett: "A wonderful book.”

Raoul Pal: "It's a great book"

Book Synopsis

"The Great Crash of 1929" by John Kenneth Galbraith is a definitive account of the devastating stock market crash that occurred in October 1929, setting off the most severe economic depression in U.S. history.

Galbraith masterfully examines the conditions leading up to the crash, detailing the rampant speculation, excessive borrowing, and inflated stock prices that characterized the era known as the Roaring Twenties. With a keen eye for historical context, he explores the role of business leaders, politicians, and the general public in perpetuating the economic bubble that eventually burst, leaving millions of Americans in financial ruin.

Through meticulous research, Galbraith unveils the inner workings of Wall Street, exposing the corruption, fraud, and reckless behavior that contributed to the crash. He delves into the mechanisms that allowed speculators to manipulate the market, while shedding light on the blind optimism and hubris that pervaded society at the time.

Galbraith's analysis extends beyond the immediate causes and consequences of the crash, offering a broader examination of the economic and social ramifications. He narrates the ripple effects felt across industries and communities, describing the widespread bank failures, unemployment, and impoverishment that plagued the nation throughout the 1930s.

In lucid and accessible prose, Galbraith imparts invaluable lessons from the Great Crash, highlighting the dangers of unchecked speculation, inadequate regulations, and an unwavering belief in perpetual prosperity. Drawing upon his own experiences as an economist, he provides insightful critiques of prevailing economic theories and offers guiding principles to mitigate future crises.

"The Great Crash of 1929" serves as an indispensable guide for understanding a pivotal moment in American history, illuminating the causes and consequences of the collapse while offering invaluable lessons for avoiding similar catastrophes in the future.

Explore More Books

See All
Natural Capitalism
The Uterus Is a Feature, Not a Bug
The Story of Civilization: The Age of Louis XIV
Self Reliance
The Hard Thing About Hard Things
Altars of Unhewn Stone
The Varieties of Religious Experience
Accidental Presidents
The Science of Conjecture
The Gifts of Imperfection
One of a Kind
Am I Being Too Subtle?
Hell Yeah or No
The Wealth of Nations
Benjamin Franklin
The Power of Full Engagement
Anthropic Bias
Old Man and the Sea
The Tao of Charlie Munger
Good Economics For Hard Times
Team of Teams
The Venture Mindset
When Money Dies
Now, Discover Your Strengths
Modelling Extremal Events
Changes in the Land
Tuxedo Park
Profile of a Nation
The Golden Compass
The Last Lion
Survival to Thrival
Benjamin Franklin
Competition Demystified
The Botany of Desire
Bad Blood
An Astronaut's Guide to Life on Earth
Innovating Out of Crisis
The Reluctant Mr. Darwin
The First Conspiracy
Founders at Work
The Power of Myth
Monetizing Innovation
The Aspirational Investor
Nixon Agonistes
Strength In Stillness
How to Read a Book
The Neverending Story
A Guide To Econometrics
To Dare and to Conquer
Follow The Money
Homo Deus
A Guide To The Good Life
The Snow Leopard
A Practical Guide for Policy Analysis
Screw Business As Usual
The Art of War
The Three Marriages
Intellectual Life in the Middle Ages
More From Less
The River of Doubt
The Start-up of You
The Body Keeps The Score
A Year with Rumi
Keeping At It
Getting to Maybe
Speak Like Churchill, Stand Like Lincoln
Zorba the Greek
Ghost Fleet
King of Capital
Models. Behaving. Badly.
Nothing To Lose
No Applause - Just Throw Money
Something Deeply Hidden
The Hate U Give
Who Really Matters
Who's In Charge
The Great Rupture
The Role of the Individual in History
The Book of Nothing
High Growth Handbook
The Old Way
The Agile Gene
Mathematician's Delight
The Feynman Lectures on Physics
The Score Takes Care of Itself
7 Powers
The Law
The Lord of the Rings
The Dip
The Wealth and Poverty of Nations
The Song Machine
Steal Like an Artist
Gang Leader for a Day
Out of Mao's Shadow
Mycelium Running