The Causes of the 1929 Stock Market Crash and over one million other books are available for Amazon Kindle. Learn more

Quantity:


	Amazon Prime Free Trial required. Sign up when you check out. Learn More

More Buying Choices

Have one to sell? Sell yours here

Share your own customer images

Search inside this book

Start reading The Causes of the 1929 Stock Market Crash on your Kindle in under a minute.

Don't have a Kindle? Get your Kindle here, or download a FREE Kindle Reading App.

The Causes of the 1929 Stock Market Crash: A Speculative Orgy or a New Era? (Contributions in Economics and Economic History) [Hardcover]

Harold Bierman (Author)

Price:	$110.95 & this item ships for FREE with Super Saver Shipping. Details
Deal Price:
	o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o

In Stock.
Ships from and sold by Amazon.com. Gift-wrap available.

Only 1 left in stock--order soon (more on the way).

Want it delivered Wednesday, February 1? Choose One-Day Shipping at checkout. Details

	Amazon Price	New from	Used from
Kindle Edition	$88.80	--	--
Hardcover	$110.95	--	--
See # more hardcovers
Show fewer hardcovers

Book Description

Series: Contributions in Economics and Economic History | Publication Date: April 30, 1998

Attempting to reveal the real causes of the 1929 stock market crash, Bierman refutes the popular belief that wild speculation had excessively driven up stock market prices and resulted in the crash. Although he acknowledges some prices of stocks such as utilities and banks were overprices, reasonable explanations exist for the level and increase of all other securities stock prices. Indeed, if stocks were overpriced in 1929, then they more even more overpriced in the current era of staggering growth in stock prices and investment in securities. The causes of the 1929 crash, Bierman argues, lie in an unfavorable decision by the Massachusetts Department of Public Utilities coupled with the popular practice known as debt leverage in the 1920s corporate and investment arena. This book extends Bierman's argument in an earlier book, The Great Myths of 1929 and the Lessons to Be Learned (Greenwood, 1991), in which he discussed and refuted seven myths about 1929 but could not explain the crash. He now believes he has a reasonable explanation. He also examines the actions of Charles E. Mitchell and Sam Insull and their subsequent unjust criminal prosecution after the crash of the 1929 stock market.

#outer_postBodyPS { display: none; } #psGradient { display: none; } #psPlaceHolder { display: none; } #psExpand { display: none; } Attempting to reveal the real causes of the 1929 stock market crash, Bierman refutes the popular belief that wild speculation had excessively driven up stock market prices and resulted in the crash. Although he acknowledges some prices of stocks such as utilities and banks were overprices, reasonable explanations exist for the level and increase of all other securities stock prices. Indeed, if stocks were overpriced in 1929, then they more even more overpriced in the current era of staggering growth in stock prices and investment in securities. The causes of the 1929 crash, Bierman argues, lie in an unfavorable decision by the Massachusetts Department of Public Utilities coupled with the popular practice known as debt leverage in the 1920s corporate and investment arena. This book extends Bierman's argument in an earlier book, The Great Myths of 1929 and the Lessons to Be Learned (Greenwood, 1991), in which he discussed and refuted seven myths about 1929 but could not explain the crash. He now believes he has a reasonable explanation. He also examines the actions of Charles E. Mitchell and Sam Insull and their subsequent unjust criminal prosecution after the crash of the 1929 stock market.

Editorial Reviews

Review

“For economic history collections serving general readers and upper-division undergraduate through professional audiences.”–Choice

About the Author

HAROLD BIERMAN, JR. is the Nicholas H. Noyes Professor of Business Administration at the Johnson Graduate School of Management, Cornell University.

Product Details

Hardcover: 184 pages
Publisher: Greenwood Press (April 30, 1998)
Language: English
ISBN-10: 031330629X
ISBN-13: 978-0313306297
Product Dimensions: 8.5 x 5.8 x 0.9 inches
Shipping Weight: 14.1 ounces (View shipping rates and policies)
Amazon Best Sellers Rank: #3,118,783 in Books (See Top 100 in Books)

Would you like to update product info or give feedback on images?

More About the Author

› Visit Amazon's Harold Bierman Page

Discover books, learn about writers, read author blogs, and more.

Customer Reviews

There are no customer reviews yet.

Create your own review

Video reviews

Amazon now allows customers to upload product video reviews. Use a webcam or video camera to record and upload reviews to Amazon.

Inside This Book (learn more)

First Sentence:
"On Black Thursday, October 24, 1929, the stock market (New York Stock Exchange) fell 34 points, a 9 percent drop for the day." Read the first page

Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
relevant market date, utility stock prices, public utility stocks, stock exchange practices, selling panic, speculative orgy, speculative loans, rediscount rate, margin buying, broker loans, major headline, excessive speculation

Key Phrases - Capitalized Phrases (CAPs): (learn more)
New York Times, Wall Street, National City Bank, Federal Reserve Board, Finance Section, United States, Black Thursday, Black Tuesday, Boston Edison, Goldman Sachs Trading Corporation, Adolph Miller, Bank of England, Chase National Bank, General Electric, Massachusetts Public Utility Commission, Austin Friars, Irving Fisher, President Hoover, Sam Insull, United Steel, Edison Electric Illuminating Company of Boston, Federal Trade Commission, Ferdinand Pecora, Paper of Thursday, Paper of Tuesday

New!
Books on Related Topics | Concordance | Text Stats

Citations (learn more)

This book cites 11 books:

The Stock Market (Economics for Today) by Robin R. Young on page 44, and page 124
Maynard Keynes: An Economist's Biography by Donald Moggridge on page 2, and Back Matter
The Logic of Privatization: The Case of Telecommunications in the Southern Cone of Latin America (Contributions in Economics and Economic History) by Walter Molano in Front Matter
Space and Transport in the World-System (Contributions in Economics and Economic History) by Stephen G. Bunker in Front Matter
John Maynard Keynes by D. E. Moggridge on page 2

See all 11 books this book cites

5 books cite this book:

Rainbow's End: The Crash of 1929 (Pivotal Moments in American History) by Maury Klein in Back Matter
Toward Rational Exuberance: The Evolution of the Modern Stock Market by B. Mark Smith in Back Matter
Social, Ethical and Policy Implications of Information Technology by Linda L. Brennan on page 170
Skyscraper Rivals by Daniel Abramson in Back Matter
Toward Rational Exuberance: The Evolution of the Modern Stock Market by B. Mark Smith in Back Matter

Books on Related Topics (learn more)

Devil Take the Hindmost by Edward Chancellor

Discusses:

Franklin D Roosevelt And The New Deal by William Edward Leuchtenburg

Discusses:

The House of Morgan by Ron Chernow

Discusses:

The Great Crash of 1929 by John Glabraith

Discusses:

Tags Customers Associate with This Product

(What's this?)

Click on a tag to find related items, discussions, and people.

federal reserve(1)

monetary policy(1)

Agree with these tags?

.jsOffDisplayBlock { display: block; } .jsOffDisplayInline { display: inline; } .jsOffVisibility { visibility: visible; } .jsOnDisplayBlock { display: none; } .jsOnDisplayNoneBlock { display: block; } .jsOnDisplayNoneInline { display: inline; } .jsOnDisplayInline { display: none; } .jsOnVisibility { visibility: hidden; } .jqOnDisplayBlock { display: none; } .jqOnDisplayInline { display: none; } .jqOnVisibility { visibility: hidden; } .jqOnDisplayNoneBlock { display: block; } .jqOnDisplayNoneInline { display: inline; }