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Galbraith writes with great wit and erudition about the perilous actions of investors, and the curious inaction of the government. He notes that the problem wasn't a scarcity of securities to buy and sell; "the ingenuity and zeal with which companies were devised in which securities might be sold was as remarkable as anything." Those words become strikingly relevant in light of revenue-negative start-up companies coming into the market each week in the 1990s, along with fragmented pieces of established companies, like real estate and bottling plants. Of course, the 1920s were different from the 1990s. There was no safety net below citizens, no unemployment insurance or Social Security. And today we don't have the creepy investment trusts--in which shares of companies that held some stocks and bonds were sold for several times the assets' market value. But, boy, are the similarities spooky, particularly the prevailing trend at the time toward corporate mergers and industry consolidations--not to mention all the partially informed people who imagined themselves to be financial geniuses because the shares of stock they bought kept going up. --Lou Schuler
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Book Description Paperback. Condition: New. Paperback. Publisher overstock, may contain remainder mark on edge. Seller Inventory # 9780547248165B
Book Description Softcover. Condition: New. First Edition. John Kenneth Galbraith's classic examination of the 1929 financial collapse.Arguing that the 1929 stock market crash was precipitated by rampant speculation in the stock market, Galbraith notes that the common denominator of all speculative episodes is the belief of participants that they can become rich without work. It was Galbraith's belief that a good knowledge of what happened in 1929 was the best safeguard against its recurrence.Atlantic Monthly wrote, "Economic writings are seldom notable for their entertainment value, but this book is. 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." Seller Inventory # DADAX0547248164
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Book Description Paperback or Softback. Condition: New. The Great Crash 1929 0.48. Book. Seller Inventory # BBS-9780547248165
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Book Description Paperback. Condition: New. Brand New!. Seller Inventory # 0547248164
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Book Description Condition: New. Brand New. Seller Inventory # 9780547248165