Experience, said Oscar Wilde, is the name men give to their mistakes. Although there could be no general agreement as to whether or not the Stockmarket crash of Oct. 23 et seq. was a mistake, last week found most economists and many a businessman looking for the "lesson."
The Bull Market of 1924-29 was sired by the Golden Industrial Age of the corresponding period. It was easy, after the Market had broken, to denounce speculators as fools and speculation as vicious. Yet a few die-hards (such as Yale's Irving...
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