Review of 'The Great Crash 1929' on 'Goodreads'
5 stars
The Great Depression was the key formative event in the economic history of the US in the 20th century. It is hard to imagine things like Social Security, the Security and Exchange Commission, Deposit Insurance, and so on. This was the trigger event for farm price supports, which are still an essential part of the government budget. This began the Federal Government's involvement in employment, through programs like the Civilian Conservation Corps. and the Works Progress Administration. What is sometimes not fully appreciated by Americans is that the Crash of 1929 was really a world event, beginning with the collapse of the Creditanstalt collapse in Austria, and spreading across Europe until it hit the U.S. In Europe, the economic collapse brought about Hitler and Mussolini. That this never happened in the U.S. is because of the reforms of Roosevelt. Galbraith gives a masterful account of how the collapse happened in …
The Great Depression was the key formative event in the economic history of the US in the 20th century. It is hard to imagine things like Social Security, the Security and Exchange Commission, Deposit Insurance, and so on. This was the trigger event for farm price supports, which are still an essential part of the government budget. This began the Federal Government's involvement in employment, through programs like the Civilian Conservation Corps. and the Works Progress Administration. What is sometimes not fully appreciated by Americans is that the Crash of 1929 was really a world event, beginning with the collapse of the Creditanstalt collapse in Austria, and spreading across Europe until it hit the U.S. In Europe, the economic collapse brought about Hitler and Mussolini. That this never happened in the U.S. is because of the reforms of Roosevelt. Galbraith gives a masterful account of how the collapse happened in the U.S.
