"The Great Crash: 1929" by John Kenneth Galbraith

From the Paper:

"John Kenneth Galbraith, in The Great Crash: 1929, writes that his book has limitations: "The task of this book . . . is only to tell what happened in 1929. It is not to tell whether or when the misfortunes of 1929 will recur" (190). In the same passage, however, Galbraith makes clear the moral lesson of 1929 and of his book: "It is that very specific and personal misfortune awaits those who presume to believe that the future is revealed to them" (190). However, after having set forth these limitations, Galbraith goes on to speculate on the future:
. . . The chances for a recurrence of a speculative orgy are rather good. No one can doubt that the American people remain susceptible to the speculative mood---to the conviction that enterprise can be attended by unlimited rewards in which they..."

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