Crash of 1929
This book presents a delicious paradox. Mary Klein, a Professor of History at the University of Rhode Island, has assembled a remarkably detailed, wonderfully readable and eminently literate account of the decline and fall of the American economy. His research is stunning, his words superbly chosen. This is a classic of economic history, a standard by which other histories are going to be judged. And it is timely, for 2001 appears to be the rim of an abyss, like that of the 1930s. Are we about to fall in once more? Prof. Klein doesn't say. Historians often tend to say that they are interested in evidence, not in laws of causation. Yet in his prologue, Prof. Kelin mentions the dilemma of scholars trying to explain the G
But in a hundred years, the Crash of October, 1929 may seem as abstract as the Dutch Tulip Mania four hundred years ago. Montarists say money had been too tight. Klein does nothing to resolve the argument. Galbraith says he could have fixed the problem in short order while foreign trade experts point to the U. My broker is going to carry me; he and three other pall bearers. What can be said of the Depression when all its warts have been counted? Prof. Comedians, of course, made light of the era. Klein does, it is a huge achivement. Klein has written a spectacular work of economic history, yet there is a point that is missed when he goal is to describe the trees rather than the forest. But his prose is luscious and his research apt. Measure them by day or by week and they look pretty unsteady. Klein's work will be the memory of the event and perhaps a reminder that living through a huge correction to a huge bull market, as the 1920s was, is hell.
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Acceptance Essays
