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Book Review
| An Economy of Abundant Beauty: Fortune Magazine and Depression America. By Michael Augspurger. (Ithaca: Cornell University Press, 2004. x, 292 pp. $34.95, ISBN 0-8014-4204-4.)
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| Fortune magazine, considered by many as the magazine of corporate America, announced its beginning in 1929, just before the stock market crash and the ensuing depression that lasted for a decade. Michael Augspurger says that Fortune announced in the first issue in February 1930, "Fortune's purpose is to reflect Industrial Life in ink and paper and word and picture as the finest skyscraper reflects it in stone and steel and architecture" (p. 21). |
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Like most of America at the time, Fortune ignored the stock market crash and continued to proclaim the soundness of American business even as the economy continued to decline and the country slipped into a depression such as it had never seen before. Fortune was "aimed at upper-level business managers and professionals" (p. 23) and "hoped to nurture an elite coalition of statesman industrialists and corporate professionals whose sophistication and broad-mindedness would make business not only profitable and productive but also socially responsible" (p. 23). |
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