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Great Crash |
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Shlaes prompts the thought that the real tragedy of the Great Crash was that Calvin Coolidge had not sought re-election in 1928; he could have spared us the "priggish" (Shlaes's word) personality--and social-engineering mentality--of Herbert Hoover. The great wars, the great crash, and steady state growth: Some new evidence about an old stylized fact. With the economy booming and a land bubble growing in Florida, the decade between the end of World War I and the Great Crash proved seminal in the transformation of real estate from avocation to profession and of NAREB from "an ineffectual and unfocused men's club into a distinctive, effective modern hybrid of a trade association and professional association. |
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