1929 and Now; Socialism Advances in Japan


  • Leo Huberman
  • Paul M. Sweezy




History, Political Economy


If there were ever any doubts that the stock market crash of 1929 was a genuinely traumatic experience in the life history of the American people, they should be dispelled once and for all by the intense interest which the Fulbright investigation of the current Wall Street boom is evoking. Is it 1929 all over again? The question is being asked with the same sort of combination of fascination and horror that is said to animate the mental process of a cobra's intended victim. Five thousand "experts" have been polled by the Senate Committee, and as the replies come in they are scanned for omens as though they were the entrails of a sacred calf. "Big majority not worried by rise," reports U. S. News and World Report in its issue of March 11th: the liver, it seems, is an auspicious shade of purplish-red.

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