9783565403707 - Fault Lines of a Fallen Market: Exploring Systemic Failures of the 1929 Crash von Tate, Kian (1 Ergebnisse)

Taschenbuch. Zustand: Neu. Druck auf Anfrage Neuware - Printed after ordering - The Wall Street Crash of 1929 was not a single catastrophic event - it was the visible rupture of a financial system riddled with structural fault lines that had been accumulating for years. By the time the Dow Jones Industrial Average fell nearly 13% on Black Monday, October 28, 1929, the conditions for collapse had long been in place: speculative excess, dangerously thin margin requirements of just 10%, fragile banking architecture, and a Federal Reserve that would prove fatally hesitant in its response.This book examines the 1929 crash not as a historical footnote but as a masterclass in systemic failure - the kind of cascading breakdown that occurs when financial interdependence is mistaken for financial strength. It traces the chain reactions that transformed a stock market correction into a decade-long global depression: the wave of bank failures triggered by margin calls that could not be repaid, the pyramid-like correspondent banking network that amplified risk across the entire system, raising systemic risk by 33% as roughly 9,000 banks failed, and the Federal Reserve's catastrophic decision to allow the money supply to contract by nearly 30% between 1930 and 1933. It examines the structural weaknesses identified by economist John Kenneth Galbraith - bad banking structure, foreign trade imbalances, rampant speculation, poor income distribution, and the fragility of holding companies - and how each interacted with the others to accelerate the downward spiral.