The Great Crash, 1929 The Great Crash, 1929 The Great Crash, 1929 is a book written by John Kenneth Galbraith and published in 1955; it is an economic history of the lead-up to the Wall Street Crash of 1929. The book argues that the 1929 stock market crash was precipitated by rampant speculation in the stock market, that the common denominator of all speculative episodes is the belief of participants that they can become rich without work and that the tendency towards recurrent speculative orgy serves no useful purpose, but rather is deeply damaging to an economy. It was Galbraith's belief that a good
Wall Street officers managing risk and compliance functions earned as much as $324,000 annually in New York City in 2013. On October 29, 2012,—ironically, the 83rd anniversary of "Black Tuesday," the culmination of the disastrous Wall Street Crash of 1929—Wall Street was disrupted when New York and New Jersey, an area not normally known as a hotbed of hurricane activity the way that areas much further south are, were blasted by Hurricane Sandy. Its 14-foot-high storm surge, a local record, caused massive street flooding in many parts of Lower Manhattan. Power to the area was knocked out by a transformer explosion at