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James Grant The Forgotten Depression (Paperback)

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Item specifics

Condition
Brand New: A new, unread, unused book in perfect condition with no missing or damaged pages. See the ...
Book Title
Forgotten Depression : 1921: the Crash That Cured Itself
Publication Name
The Forgotten Depression
Title
The Forgotten Depression
Author
James Grant
Format
Trade Paperback
EAN
9781451686463
ISBN
9781451686463
Publisher
Simon & Schuster
Genre
Business & Economics, History, Political Science
Topic
Political Economy, Economic History, United States / 20th Century, Economic Conditions, Public Policy / Economic Policy
Release Date
17/11/2015
Release Year
2015
Language
English
Item Length
9in
Publication Year
2015
Item Height
0.9in
Item Width
6in
Item Weight
11.1 Oz
Number of Pages
272 Pages

About this product

Product Information

James Grant's story of America's last governmentally untreated depression: A bible for conservative economists, this "carefully researched history...makes difficult economic concepts easy to understand, and it deftly mixes major events with interesting vignettes" ( The Wall Street Journal ). In 1920-1921, Woodrow Wilson and Warren G. Harding met a deep economic slump by seeming to ignore it, implementing policies that most 21st century economists would call backward. Confronted with plunging prices, wages, and employment, the government balanced the budget and, through the Federal Reserve, raised interest rates. No "stimulus" was administered, and a powerful, job-filled recovery was under way by late 1921. Yet by 1929, the economy spiraled downward as the Hoover administration adopted the policies that Wilson and Harding had declined to put in place. In The Forgotten Depression , James Grant "makes a strong case against federal intervention during economic downturns" ( Pittsburgh Tribune Review ), arguing that the well-intended White House-led campaign to prop up industrial wages helped turn a bad recession into America's worst depression. He offers examples like this, and many others, as important strategies we can learn from the earlier depression and apply today and to the future. This is a powerful response to the prevailing notion of how to fight recession, and "Mr. Grant's history lesson is one that all lawmakers could take to heart" ( Washington Times ).

Product Identifiers

Publisher
Simon & Schuster
ISBN-10
1451686463
ISBN-13
9781451686463
eBay Product ID (ePID)
201629836

Product Key Features

Book Title
Forgotten Depression : 1921: the Crash That Cured Itself
Author
James Grant
Format
Trade Paperback
Language
English
Topic
Political Economy, Economic History, United States / 20th Century, Economic Conditions, Public Policy / Economic Policy
Publication Year
2015
Genre
Business & Economics, History, Political Science
Number of Pages
272 Pages

Dimensions

Item Length
9in
Item Height
0.9in
Item Width
6in
Item Weight
11.1 Oz

Additional Product Features

Lc Classification Number
Hb3717 1920.G73 2014
Reviews
Grant engagingly tells the tale of this extraordinary episode, which has been shoved down the memory hole because it doesn't comport with reigning economic orthodoxy., "A riveting and instructive tale. . . . the depression of 1920-21 has not received the scrutiny it deserves. The instructive lesson of the story is that the federal government "met the downturn by seeming to ignore it-or by implementing policies that an average 21st century economist would judge disastrous"-and the hands-off approach actually worked. . . . Once read, The Forgotten Depression will be hard to forget.", "A riveting and instructive tale. . . . the depression of 1920-21 has not received the scrutiny it deserves. The instructive lesson of the story is that the federal government "met the downturn by seeming to ignore it--or by implementing policies that an average 21st century economist would judge disastrous"--and the hands-off approach actually worked. . . . Once read, The Forgotten Depression will be hard to forget.", The Forgotten Depression is a loving tribute to laissez-faire . . . Grant pens his tale with a wry humor reminiscent of John Kenneth Galbraith in The Great Crash. . . . a timely reminder that our forebears knew of other, more efficacious, remedies to cure financial hangovers than the hair of the dog., Are markets self-correcting? What, if any, role should government play when the Hidden Hand falters? Even as much of the world struggles through The Great Recession, James Grant offers a libertarian dissent from interventionist dogma. You don't have to agree with Grant's economics to admire the rigor of his thought, the grace of his prose, or the sweep of his argument contrasting what went right in the 1920s, and wrong in the 1930s. This is a true rarity, a first-rate work of history that is as relevant as the morning headlines., It is a matter of libertarian faith that the Great Depression was prolonged rather than alleviated by Keynesian economic policy, and Grant's intent is clear: The invisible hand reigns supreme, the market knows what's good, and government meddling usually ends badly. . . . interesting reading indeed., Mr. Grant is an excellent writer, and The Forgotten Depression is a carefully researched history of this dramatic episode. . . . Mr. Grant's chronicle makes difficult economic concepts easy to understand, and it deftly mixes major events with interesting vignettes. . . . People who believe in the inadequacy of the current macroeconomic orthodoxy will find him to be an articulate spokesman., Grant unearths a forgotten depression to pose the iconoclastic argument that the government's best response to economic turmoil is to keep its hands off. A veteran financial writer, Grant handles abstruse issues with a light touch and a sure hand, gleaning wisdom in such unexpected figures as Charles Dawes, first director of the federal budget, and Warren G. Harding.
Copyright Date
2014
Lccn
2014-021387
Dewey Decimal
330.973/0913
Intended Audience
Trade
Dewey Edition
23
Illustrated
Yes

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