Intelligence Squared Trump, Markets and The Greatest Crash in U.S. History, with Andrew Ross Sorkin (Part One)
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Dec 1, 2025 
Andrew Ross Sorkin, acclaimed New York Times columnist and author, shares insights from his research on the 1929 financial crash. He draws parallels between the past and today's market, discussing the lessons we ignore at our peril. Sorkin examines the likelihood of another depression, the impacts of bailouts, and the role of national debt. He highlights the euphoria of the 1920s and warns about AI's economic implications. Listeners will find his analysis of policy mistakes and the opaque nature of private credit particularly compelling.
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Policy, Not Crash, Determines Severity
- Crashes are inevitable but outcomes depend on policy choices after the fall.
- Andrew Ross Sorkin argues modern bailouts and money-printing can prevent a repeat Great Depression.
Archive Find Sparked The Book
- Sorkin discovered Thomas Lamont's archive at Harvard and found transcripts of his calls and meetings.
- That find became the catalyst that convinced him he could write a granular, character-driven history of 1929.
Debt Fueled The 1920s Euphoria
- The 1920s boom was driven by new technologies and a sudden cultural embrace of debt.
- Sorkin links mass margin lending and consumer credit to the rapid expansion of the stock market.
