1929

As the saying goes, history doesn’t always repeat, but it often rhymes. In reading 1929 by Andrew Ross Sorkin, it’s hard not to notice the parallels between the market behaviours leading up to the 1929 crash and those we see today. Do I think we’re heading for another collapse of that magnitude? No. Do I think many of the same speculative behaviours, particularly among retail investors can be observed today? Absolutely.

I suspect you’re unlikely to pick up this book without at least some familiarity or curiosity about financial markets. For those coming in completely cold, the early chapters might feel a little dry or slow to pick up pace. For anyone with an existing interest in economic history though, the slower start serves the purpose of carefully building the context around the events that culminated in the crash and what followed in the years after.

Sorkin’s research is very detailed and fitting of a journalist by trade. He does an excellent job of bringing the period to life by focusing not only on the economic forces at play but also on the personalities behind them. The bankers, speculators, and policymakers whose actions, rational or otherwise, helped shape one of the most significant financial events in modern history.

The book strikes a good balance between being information dense whilst being engaging and relatively easy reading.

Who’s it for?

This book will appeal most to readers with an interest in financial markets and economic history. Those interested in the period surrounding the First and Second World Wars will also likely find it interesting, as the events leading to the 1929 crash were intertwined with the post World War One fall out.