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Investment Banking and Security Speculation in the Late 1920's

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  • Pontecorvo, Giulio

Abstract

The stock market boom and bust of the late 1920's has been closely associated by scholars and public alike with the great changes in American life that followed closely thereafter. Actually, the interrelationship is far from clear, and a better understanding of the capital market is needed. Historical evidence points to the absence of effective market regulation and to the violation of accepted norms of monetary policy, but the only clear-cut causal connection between levels of economic activity and the stock boom lies in the effect of security inflation on the psychological climate of the business community.

Suggested Citation

  • Pontecorvo, Giulio, 1958. "Investment Banking and Security Speculation in the Late 1920's," Business History Review, Cambridge University Press, vol. 32(2), pages 166-191, July.
    • Handle: RePEc:cup:buhirw:v:32:y:1958:i:02:p:166-191_01
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    Cited by:

    1. Lino Sau, 2022. "Schumpeter vs. Minsky on the Evolution of Capitalism and Entrepreneurship," Annals of the Fondazione Luigi Einaudi. An Interdisciplinary Journal of Economics, History and Political Science, Fondazione Luigi Einaudi, Torino (Italy), vol. 56(1), pages 245-272, June.
    2. Charles J. Whalen, 1999. "Hyman Minsky's Theory of Capitalist Development," Economics Working Paper Archive wp_277, Levy Economics Institute.

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