About This Book
John Kenneth Galbraith's "The Great Crash, 1929" offers a detailed and engaging economic history of the Wall Street crash of 1929. This book argues that rampant speculation, coupled with structural economic weaknesses, led to the devastating financial collapse and the subsequent Great Depression. Galbraith's writing is known for its clarity, wit, and ability to make complex economic concepts accessible, even including humorous observations of human behavior during the speculative bubble. While originally written for an adult audience, its insights are invaluable for older students and curious young adults seeking to understand historical financial events and their lasting impact. It serves as a cautionary tale, emphasizing the importance of learning from past economic mistakes.
Discussion Prompts
1
What does Galbraith mean by 'rampant speculation,' and how did it contribute to the crash?
2
Galbraith argues that a good knowledge of what happened in 1929 was the best safeguard against its recurrence. Do you agree? Why or why not?
3
What were the five main weaknesses Galbraith identified as contributing to the Great Depression, and how do they relate to each other?
4
How does human behavior, such as the desire to 'get rich without work,' play a role in economic bubbles?
5
Considering the revisions of this book over decades, what does that tell us about the ongoing relevance of its lessons?
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