Overview

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.

Full Product Details

Author:   Harold Bierman Jr.
Publisher:   Bloomsbury Publishing Plc
Imprint:   Praeger Publishers Inc
Volume:   No. 195
Dimensions:   Width: 14.00cm , Height: 2.20cm , Length: 21.00cm
Weight:   0.340kg
ISBN:  

9780313306297

ISBN 10:   031330629
Pages:   184
Publication Date:   16 April 1998
Recommended Age:   From 7 to 17 years
Audience:   College/higher education ,  Professional and scholarly ,  Undergraduate ,  Postgraduate, Research & Scholarly
Format:   Hardback
Publisher's Status:   Active
Availability:   Manufactured on demand  
We will order this item for you from a manufactured on demand supplier.

Table of Contents

Preface Was the Stock Market Too High? The Hatry Case and the 1929 Stock Market Crash The Attempts to Stop the Speculators The Week of March 25, 1929 Significant News and Dates in the Month of October 1929 Investment Trusts and Margin Buying The Public Utility Sector The Accused An Overview of the Causes of the Crash The 1929 Market and the 1990s Bibliography Index

Reviews

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

Author Information

HAROLD BIERMAN, JR. is the Nicholas H. Noyes Professor of Business Administration at the Johnson Graduate School of Management, Cornell University. He is the author of several books, including The Great Myths of 1929 and the Lessons to Be Learned (Greenwood, 1991).

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