The Great Crash 1929

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By John Kenneth Galbraith, and and, James K. Galbraith
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Examines the ‘gold-rush fantasy’ in American psychology and describes its dire consequences.
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Not as good as I would have thought. I felt a lot of the description could have been summed up in a few infographics (obviously those were in short supply in the 1950s). Though this does describe the attitudes and people of the era quite well.
To be fair the book says it's about the crash, but I'm mainly interested in why it lead to the depression. This second part is only summed up at the end. I think there wasn't enough discussion of the effect of debt in exacerbating the effect on the crash. He does mention that the Fed COULD have brought the % of stocks you could buy on margin (with debt) to 100% (no debt) but I think this might have been of more importance than Galbraith mentions. Further in the quick summary of possible causes of the depression he doesn't go into debt overhang.
My impression is that if non of the stocks had been bought with debt then half the crash and most of the depression woudn't have happenned. Re the crash, becuase people had to sell off their good shares to fund the debt caused by the loss of value of bad shares, re the depression: becuase the probable destruction of money would have resulted in more debt than money to pay it with, then everyone hunkers down to pay off their debts, they can't spend money in the real economy so it shrinks, so there are less jobs, so the economy shrinks more etc.
Basically a more recent, thicker, book should have more useful information than this one which added very little to my knowledge after reading positive money and Debt the First 5000 Years and lots of other finance books since our own crash.