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The Forgotten Depression
- Author
- James Grant
- Narrator
- Rick Adamson
- Publisher
- Tantor Media, Inc
- Publish Date
- 3 December 2019
- Run Time
- 9 hours 18 minutes
- Format
- Audiobook
What to expect
In 1920-1921, Woodrow Wilson and Warren G. Harding met a deep economic slump by seeming to ignore it, implementing policies that most twenty-first 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.
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Details
- Author
- James Grant
- Narrator
- Rick Adamson
- Duration
- 9 hours 18 minutes
- Release Date
- 3 December 2019
- ISBN
- 9781977365965
- Format
- Audiobook
- Publisher
- Tantor Media, Inc
- Genre
- Business and Management, Right-of-centre democratic ideologies, Centrist democratic ideologies, Economic history, Politics and government
Synopsis
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 twenty-first 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.
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