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 from the World Trade Center was later used as landfill for Battery Park City residential developments. 23 Wall Street, built in 1914, was known as the "House of Morgan" and served for decades as the bank's headquarters and, by some accounts, was viewed as an important address in American finance. Cosmetic damage from the 1920 Wall Street bombing is still visible on the Wall Street side of this building. A key anchor for the area is the New York Stock Exchange. City authorities realize its importance, and believed that it has "outgrown its neoclassical temple at the corner of Wall