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Title: Rainbow's End: The Crash of 1929 (Pivotal Moments in American History) by Maury Klein ISBN: 0-19-515801-6 Publisher: Oxford University Press Pub. Date: 01 March, 2003 Format: Paperback Volumes: 1 List Price(USD): $16.95 |
Average Customer Rating: 3.75 (8 reviews)
Rating: 3
Summary: Good, but not good enough
Comment: Klein's retelling of the story of the stock market crash of 1929 is just too little and much too late. Other books, notably Only Yesterday by F.L. Allen for anecdotal material and The Great Crash of 1929 by J. K. Galbraith for analysis, go over the same material and do a better job. Klein's book does have some strong points: wonderful vignettes of some of the people, big and small, who were caught up in the crash; a good analysis of why Herbert Hoover, "the great engineer," couldn't engineer his way out of this one; some interesting anecdotal material I haven't seen anywher else. But all of that could have been done in less than half the space. Nice try, but no cigar.
Rating: 4
Summary: A colossal event seen through individual's eyes
Comment: Maury Klein, in his book Rainbow's End: The crash of 1929, has given us a blend of a newer style of historiography with the traditional sense of examining historical events. He has given us a look at the Stock Market Crash of 1929 through the eyes of the people that participated, rather than looking at it strictly from an economic or political historical viewpoint.
Klein starts his book with a description of American society in the 1920's and explains to us why the society of excess and speculation led to the crash moreso than a failing of the general American economy. By dotting the landscape with characters, some familiar and some unfamiliar, Klein gives us a good portrayal of the times.
There is, unfortunately, only a short section of the book that actually deals with the events of the crash itself. This section focuses the days between Black Thursday and Bloody Tuesday, which culminated in a horrific period of losses in the market.
Klein does a good job of staying on task during the sections of the book in explaining the economic factors and the behind-the-scenes actions that took place during these few hectic days. He does not, however, explain the immediate social ramifications (such as the fact that people who lost everything gave up on life) as well as might be expected; he gives this facet of the crash only peripheral coverage.
I would recommend this book to anyone that is looking for a socio-economic history of America during this 1920's. It does a very good job of covering this topic. However, if one is looking for details just on the crash itself and those few terrible days on Wall Street, that reader would be well served to find another book to read.
Rating: 4
Summary: Wha' Happ'n?
Comment: "No era ever vanished so suddenly, so completely, as the
twenties." -- -- David Dempsey, _New York Times_, Feb 15, 1970
This is a quick run-through of the Crash, with a little pop-sociology about America in the Twenties. It's eerie, reading quotes from bankers, politicians, and brokers from the months before the Crash, about how the market had become so modernized and shockproof that panics were now impossible. Sounds familiar...
New York Times financial columnist Alexander Noyes is a primary source in this book. It is fascinating, watching these titanic events being filtered daily through this not-stupid man's pen. We've heard more than 70 years of second-guessing about the Crash by now, so it is interesting seeing how it was taken point-blank by analysts at the time.
In Maury Klein's account, the Crash is nobody's fault. Like Stanislaw Lec once said, every snowflake in an avanlanche pleads not guilty. Big brokers ostentatiously placed big orders, hoping to spur rallies. Consortia of financiers struggled to maintain public confidence in the market. President Herbert Hoover-who as a humanitarian first and failed President second was Jimmy Carter in reverse-tried to get Big Business together in a game plan to retrieve the situation. But in a free market, there is no one pulling levers and hauling cables controlling things. There was no one to stop the free market from going into freefall.
Throughout the book are amusing little vignettes, like the man who sat smiling in his broker's office throughout Black Monday. His termagant wife wouldn't be able to nag him about the neighbors doing better in the market than him anymore...
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Title: Crossroads of Freedom: Antietam (Pivotal Moments in American History) by James M. McPherson ISBN: 0195135210 Publisher: Oxford University Press Pub. Date: 01 July, 2002 List Price(USD): $26.00 |
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Title: Brown V. Board of Education: A Civil Rights Milestone and Its Troubled Legacy by James T. Patterson ISBN: 0195156323 Publisher: Oxford University Press Pub. Date: 01 October, 2002 List Price(USD): $16.95 |
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Title: All Shook Up: How Rock 'N' Roll Changed America by Glenn C. Altschuler ISBN: 0195139437 Publisher: Oxford University Press Pub. Date: 01 September, 2003 List Price(USD): $26.00 |
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Title: Washington's Crossing (Pivotal Moments in American History) by David Hackett Fischer ISBN: 0195170342 Publisher: Oxford University Press Pub. Date: 01 January, 2004 List Price(USD): $35.00 |
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Title: Alexander Hamilton by Ron Chernow ISBN: 1594200092 Publisher: The Penguin Press Pub. Date: 26 April, 2004 List Price(USD): $35.00 |
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