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Causes Of 1929 Stock Market Crash: A Speculative Orgy Or A New Era?

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Sharon Tao Mr. Caldwell Economics 28 October 2015 The Great Crash 1929 Galbraith, John Kenneth. The Great Crash, 1929. Boston: Houghton Mifflin, 1955. Print. In his book, The Great Crash 1929, John Kenneth Galbraith examines the stock market crash. He brought up ideas of buying on margins, bad banking structures and income inequality were considered as contributing causes of the crash. However, Galbraith argues that the speculations in the stock market were the main reasons, due to the wrong belief of gaining wealth through investing in current trends could make them rich without work, this belief strongly damaged the economy. Galbraith used a simple storytelling technique in a chronological order from people starting …show more content…

written by Harold Bierman Jr. catches my attention. Because Bierman refutes the idea that wild speculation has driven up stock market prices and eventually led to market crash. This idea is contrary to Galbraith 's argument in his book, in his book he stated that the main cause of this stock market crash were due to the speculations of the investors that later on drove the price up and led greedy investors buying stocks on margin and harms the market. These two authors wrote on book on the topic of The Great Crash of 1929, however they both proposed a different argument for the causes of the …show more content…

I would recommend this book to people if they are looking for a well diverse knowledge of the Great Crash. Galbraith uses a simple and humorous technique to catch a reader 's eye. I personally adored how he can categorize the contributing factors for the crash and also the results which I think give me a clear idea of the whole event.He was able to capture the gist of the events and conclude them into rich informations for reader which I really appreciate. The only part I think can be improved on is that I was hoping a more detailed information on the economic point of view and not mainly on analysis. He could give out more dates of numeric record and the economic point of view like inflations and trading records. Overall Galbraith delivered an amazing book for us readers to enjoy and acknowledge his creative insights as a former experienced economist. The stories were compelling that I felt like I was reading a novel. Even though this book was published in the 1950s but it still got so much to offer. This book definitely increased my knowledge of the business during the early 20th

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