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 West as one of the financial centers. Fort Worth, Texas was known as the "Wall Street of the West" starting in the early 1900s similarly to Los Angeles's South Spring Street. However, it was not the financial companies that gave Fort Worth Stockyards its Wall Street name, but the livestock trading. In 1902, the Livestock Exchange Building was constructed to house many livestock commission companies, telegraph offices, railroad offices and other support businesses. The business grew to the peak at 1944 which processed 5,277,496 head of livestock. After that year, the livestock exchange business started to decline until its low point