One would be hard pressed to find someone who has not been affected by the recent economic downturn. History tells us that everything is indeed cyclical. The world has seen this whether it is the crash of 1929 or 1988. At the impetus of Arthur Schlesinger the great economist John Kenneth Galbraith published The Great 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 knowledge of what happened in 1929 was the best safeguard against its recurrence. The world saw a return to this in the 2008 crash with banks holding toxic assets, namely mortgages.
Raptis Rare Books has a large inventory of many of the classic economic texts. Whether you are looking for John Maynard Keynes, J.R. Hicks, Paul Samuelson, Ludwig Von Mises or Milton Friedman, we are sure to have them.
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