the great crash of 1929

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BOOK REVIEW OF THE GREAT CRASH OF 1929

The focal point of this is to study , evaluate and analyze Maury Klein 's theme and the purpose for writing the book Rainbow 's End : The Crash of 1929 (Pivotal Moments in American History . This 368 page book published by Oxford University Press , USA in October 1 , 2001 is a detail study on the Great Depression of 1929 . While writing the it would be concentrated that the author 's values and biases , assumptions and assertions

are assessed . The author 's style would also be taken into consideration and arguments would be presented while the evaluation is made on the issue . Furthermore , it would be looked upon whether this text is accessible to an intelligent reader or not or is only for a specialist . Lastly the strength and weakness of the book would also be considered . Additionally , it would be looked upon whether the book contributes to the understanding of the subject matter or not

But before we look into the issues it would be better have an overlook on the basic subject . The decade leading up to the stock market crash of 1929 and the following Great Depression is typically remembered as one of great prosperity everybody , it seemed , was getting wealthier . While the rich added to their riches , even the working class was beginning to earn a little bit of money to put away . The middle class was inching closer to luxury with the money it had made in investment markets . All signs were pointing up . It was precisely this shared spirit of unbridled optimism , however , that led to the crash and the subsequent depression the Thirties were particularly horrific specifically because few , in their boom-era delirium , had foreseen that the wave , so long cresting , must eventually break . When , on that Black Monday , the stock market did actually crash , and when bankruptcies and layoffs followed on its heels , the country was unprepared - due to ideology as well as limited governmental infrastructure - to deal with the economic repercussions . All signs pointed to a booming American economy in the 1920s . Between the years of 1925 and 1929 , the number of factories shops , and other establishments of production rose from 183 ,900 to 206 ,700 , better than a ten percent increase the value of the products coming out of those establishments rose similarly , from 60 .8 billion to 68 billion (Galbraith , 2 . In addition , the number of new cars rolling off the assembly line rose from 4 ,301 ,000 in 1926 to 5 ,358 ,000 in 1929 (Galbraith , 1954 , 2

This is the point when the book Rainbow 's End : The Crash of 1929 comes into prominence . The author mentions in this context that If it is true , as historian Jacques Barzun once observed , that `whoever wants to know the heart and mind of America had better learn about baseball ' the 1920 season serves as a revealing emblem of both the country 's past and its...