Repeated Financial Crises

One of the books I am reading just now, written in 1954 and revised in 1975, is J.K. Galbraith’s The Great Crash 1929. In the foreword, he described the resurgence of financial instability in the 1960’s as memories faded. Wall Street had a “day of reckoning” in 1970.
According to Professor Galbraith, leverage in [...]