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The Great Crash 1929
by John Kenneth Galbraith
from Mariner Books
Customer Reviews:
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Avg. Customer Rating: 3.5 / 5.0 
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EXCELLENT INTRODUCTION TO THE 1929 CRASH 
There are bigger and more detailed accounts of the 1929 Crash, but Galbraith's effort is excellent at distilling and depicting what happened and why. It's a great place to begin a study of the Great Depression. I was surprised at how well Galbraith wrote, and his command of the subject. None of it is difficult to grasp, which is why it's a great place to begin.
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4.5 Stars-Galbraith could have gotten 5 stars if he had integrated the ancient wisdom of Adam Smith into his book.
Galbraith does an excellent job in demonstrating how the private sector commercial bankers' unregulated short run,short sighted, penny wise ,pound foolish profit and sales maximizing behavior provided the financing and leverage for the real estate and stock market bubbles of the mid to late 1920's that led to the financial collapse of the DOW by mid 1931.The writing and analysis is excellent.
I have one major criticism.No mention is made of the analysis provided by Adam Smith of precisely the problem... more info
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Economics at its best
When I was an undergraduate, the church around which the campus was centered hosted informal luncheons twice a month. These affairs were held in the church's large and comfortable basement, and usually had nothing to do with religion. The enticement for students to attend the luncheons (aside from a free box lunch) was the reputation or position of a fellow diner the church had managed to ensnare, and to be included at a gathering, a student had only to sign up while space was still available. Sometimes... more info
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Black Tuesday .. 
Is interesting to know more about one of the most dramatic events in the history of financial markets. If you really want to know what really speculation is, you have to read this book, because great part of the problem that happened that bloody October of 1929 was due to an overvalued market thanks to the speculators. It is also interesting to note that in those days, despite the stocks prices were dropping, there was always somebody buying for the rise. This crash of the stock market took on a bad foot... more info
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