The Great Crash, 1929 crash described by Galbraith and the crash occurring in the Late 2000s recession. Revised editions of the book, each time with updated research and a more timely version of the introduction, were published in 1961, 1972, 1988, 1997 and 2009. Galbraith, J.K, "The Great Crash" 1929, Pelican, 1961 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
Wall Street office vacancy rates downtown which were "persistently high" and with some buildings "standing empty". The day of the stock market drop, October 20, was marked by "stony-faced traders whose sense of humor had abandoned them and in the exhaustion of stock exchange employees struggling to maintain orderly trading". Ironically, it was the same year that Oliver Stone's movie "Wall Street" appeared. In 1995, city authorities offered the "Lower Manhattan Revitalization Plan" which offered incentives to convert commercial properties to residential use. Construction of the World Trade Center began in 1966 but had trouble attracting tenants when completed. Nonetheless, some substantial