The Next Big Idea
Andrew Ross Sorkin: What the Crash of 1929 Says About Today
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Show notes
Andrew Ross Sorkin’s new book, 1929: Inside the Greatest Crash in Wall Street History—and How It Shattered a Nation, is an eye-opening account of the forces that led to the worst financial crisis in history and the lessons that disaster can teach us about today’s economy.
(7:09) Life before the crash
(8:58) How Americans developed a taste for leverage
(17:10) What happened on Black Thursday
(20:05) Why so few people saw the crash coming
(26:23) Could the crash have been averted?
(37:13) Andrew’s fascination with money
(39:22) What if financial bubbles are a feature, not a bug?
(41:35) Could we be headed for another 1929?
(45:00) The dangers of leverage
(53:16) How the blockchain will revolutionzie finance