The stock market crash - and after

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Monograph

Identifikator:: 1815583320

URN:: urn:nbn:de:zbw-retromon-204544

Document type:: Monograph

Author:: Fisher, Irving http://d-nb.info/gnd/118533541

Title:: The stock market crash - and after

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1930

Scope:: XXVI, 286 S.; graph. Darst

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter IV. The Threat to Business

Collection:: Economics Books

62 The Stock Market Crash—And After nation’s industries; more conservative buyers would own them through their stock holdings. This new set of stock owners will doubtless be more cautious in buying goods. They will save more money for investment. On this account, but chiefly on account of the dislocation, consumer de- mand will be affected. But if the industrial leaders maintain their confidence in the soundness of business conditions and the prospects of future prosperity, there can be little or no recession in industry. That the purchasing power of the bulk of the na- tion cannot be greatly impaired may be inferred from the studies, just published, by the National Bureau of Economic Research, which show that 99 per cent of income receivers in the United States have incomes below $9,000 and that 50 per cent of these incomes are below $1,100. It seems incon- ceivable that any substantial number of those whose incomes are below $1,100 should have suffered loss in the recent stock market crash. It is improbable that a large percentage of the 9g per cent of income receivers having incomes less than $9,000 were in the stock market and suffered serious loss of income. These incomes consist mostly of wages and salaries, and the recipients could have little or no concern with a stock market panic. If this be true, the redistribution of corporate ownership due to the crash is mostly confined to the upper one or two per cent of the population. The result may be a somewhat greater concentration of stock ownership and wealth in the hands of a small

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