gmore /f Barrie /i A.
?From now on any serious student of the Depression will be obliged
to consult this work for a sense of securities price movements,
investor attitudes, and relevant contemporary sources.?-Journal of
Economic History
?In this large volume Wigmore analyzes the infamous 1929 stock
market crash and the subsequent depression in the US from 1929
through 1933. The focus is on the role of banks and the turbulent
behavior of the securities' markets, but the author includes
interesting and relevant discussion of both US and foreign
government attempts to contain this collapse of economic activity.
The detailed study (year by year, sector by sector, and market by
market) supports one clear and convincing thesis: The "Great
Depression" was not caused by faulty monetary policy, but was the
result of fundamental imbalances and speculation on real goods and
services as well as financial markets. Contributing to the debacle
were attempts to set unrealistic exchange rates and allowing the
disequilibrium to grow between international and domestic markets.
Political goals and policies incompatible with reality were
situations that no monetary policy could remedy; security markets
simply reflected that state of affairs...a valuable source of data
and analysis.?-CHOICE
?The Crash and Its Aftermath is an excellent work of reference on
the Great Contraction. It will be useful both to people with only a
passing curiosity about the Crash and to those for whom the Great
Depression is a major scholarly concern.?-Business History
"From now on any serious student of the Depression will be obliged
to consult this work for a sense of securities price movements,
investor attitudes, and relevant contemporary sources."-Journal of
Economic History
"The Crash and Its Aftermath is an excellent work of reference on
the Great Contraction. It will be useful both to people with only a
passing curiosity about the Crash and to those for whom the Great
Depression is a major scholarly concern."-Business History
"In this large volume Wigmore analyzes the infamous 1929 stock
market crash and the subsequent depression in the US from 1929
through 1933. The focus is on the role of banks and the turbulent
behavior of the securities' markets, but the author includes
interesting and relevant discussion of both US and foreign
government attempts to contain this collapse of economic activity.
The detailed study (year by year, sector by sector, and market by
market) supports one clear and convincing thesis: The "Great
Depression" was not caused by faulty monetary policy, but was the
result of fundamental imbalances and speculation on real goods and
services as well as financial markets. Contributing to the debacle
were attempts to set unrealistic exchange rates and allowing the
disequilibrium to grow between international and domestic markets.
Political goals and policies incompatible with reality were
situations that no monetary policy could remedy; security markets
simply reflected that state of affairs...a valuable source of data
and analysis."-CHOICE
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