" There was much that was good about the world of which Coolidge spoke. True, as liberal misanthropes have insisted, the rich were getting richer much faster than the poor were getting less poor. The farmers were unhappy and had been ever since the depression of 1920–21 had cut farm prices sharply but left costs high. Black people in the South and white people in the southern Appalachians continued to dwell in hopeless poverty. Fine old-English houses with high gables, leaded glass, and well-simulated half-timbering were rising in the country club district, while farther in town one encountered the most noisome slums outside the Orient. "

― John Kenneth Galbraith , The Great Crash of 1929