The Great Myths of 1929 and the Lessons to Be Learned

What actually was the economic situation in 1929 and what happened to the stock market? Harold Bierman’s look at the Crash of ‘29 provides provocative answers that challenge the facts and overturn previously held assumptions concerning the catastrophic events that led to ten years of economic depression and very likely created the fertile soil of despair and unrest that ultimately led to World War II. This re-evaluation takes a different track and arrives at a different set of conclusions than John Kenneth Galbraith’s classic overview of the period The Great Crash . Echoes of the great stock market price declines that ended ten years of the greatest prosperity the US had ever experienced have continued to reverberate down the corridors of history. Bierman believes that a more complete understanding of these past events can enhance current market decisions; that by accurately assessing the stock market crash of 1929-1932, readers can better grasp the present market situation and more wisely forecast the future.