The Forgotten Depression

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The Forgotten Depression

Author : James Grant
Publisher : Simon and Schuster
Page : 272 pages
File Size : 53,9 Mb
Release : 2014
Category : Business & Economics
ISBN : 9781451686463

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The Forgotten Depression by James Grant Pdf

"By the publisher of the prestigious Grant's Interest Rate Observer, an account of the deep economic slump of 1920-21 that proposes, with respect to federal intervention, "less is more." This is a free-market rejoinder to the Keynesian stimulus applied by Bush and Obama to the 2007-09 recession, in whose aftereffects, Grant asserts, the nation still toils. James Grant tells the story of America's last governmentally-untreated depression; relatively brief and self-correcting, it gave way to the Roaring Twenties. His book appears in the fifth year of a lackluster recovery from the overmedicated downturn of 2007-2009. In 1920-21, 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 in 1921. In 1929, the economy once again slumped--and kept right on slumping as the Hoover administration adopted the very policies that Wilson and Harding had declined to put in place. Grant argues that well-intended federal intervention, notably the White House-led campaign to prop up industrial wages, helped to turn a bad recession into America's worst depression. He offers the experience of the earlier depression for lessons for today and the future. This is a powerful response to the prevailing notion of how to fight recession. The enterprise system is more resilient than even its friends give it credit for being, Grant demonstrates"--

The Forgotten Depression

Author : James Grant
Publisher : Simon and Schuster
Page : 272 pages
File Size : 42,5 Mb
Release : 2014-11-11
Category : Business & Economics
ISBN : 9781451686487

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The Forgotten Depression by James Grant Pdf

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. 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).

The Forgotten Depression

Author : James Grant
Publisher : Simon and Schuster
Page : 272 pages
File Size : 42,7 Mb
Release : 2014-11-11
Category : Business & Economics
ISBN : 9781451686456

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The Forgotten Depression by James Grant Pdf

An account of the federally ignored economic slump of 1920-1921 challenges the Keynesian stimulus responses to the 2007-2009 recession, arguing that federal interventions after the 1929 crash extended the Great Depression.

The Forgotten Man

Author : Amity Shlaes
Publisher : Random House
Page : 498 pages
File Size : 48,9 Mb
Release : 2009
Category : Depressions
ISBN : 9780712639965

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The Forgotten Man by Amity Shlaes Pdf

This striking reinterpretation of the Great Depression looks at the neglected and moving stories of individual Americans, and shows how they had helped to establish the steadfast character that has developed a nation.

Down and Out in the Great Depression

Author : Robert S. McElvaine
Publisher : Univ of North Carolina Press
Page : 276 pages
File Size : 42,6 Mb
Release : 2009-11-30
Category : History
ISBN : 9780807898819

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Down and Out in the Great Depression by Robert S. McElvaine Pdf

Down and Out in the Great Depression is a moving, revealing collection of letters by the forgotten men, women, and children who suffered through one of the greatest periods of hardship in American history. Sifting through some 15,000 letters from government and private sources, Robert McElvaine has culled nearly 200 communications that best show the problems, thoughts, and emotions of ordinary people during this time. Unlike views of Depression life "from the bottom up" that rely on recollections recorded several decades later, this book captures the daily anguish of people during the thirties. It puts the reader in direct contact with Depression victims, evoking a feeling of what it was like to live through this disaster. Following Franklin D. Roosevelt's inauguration, both the number of letters received by the White House and the percentage of them coming from the poor were unprecedented. The average number of daily communications jumped to between 5,000 and 8,000, a trend that continued throughout the Rosevelt administration. The White House staff for answering such letters--most of which were directed to FDR, Eleanor Roosevelt, or Harry Hopkins--quickly grew from one person to fifty. Mainly because of his radio talks, many felt they knew the president personally and could confide in him. They viewed the Roosevelts as parent figures, offering solace, help, and protection. Roosevelt himself valued the letters, perceiving them as a way to gauge public sentiment. The writers came from a number of different groups--middle-class people, blacks, rural residents, the elderly, and children. Their letters display emotional reactions to the Depression--despair, cynicism, and anger--and attitudes toward relief. In his extensive introduction, McElvaine sets the stage for the letters, discussing their significance and some of the themes that emerge from them. By preserving their original spelling, syntax, grammar, and capitalization, he conveys their full flavor. The Depression was far more than an economic collapse. It was the major personal event in the lives of tens of millions of Americans. McElvaine shows that, contrary to popular belief, many sufferers were not passive victims of history. Rather, he says, they were "also actors and, to an extent, playwrights, producers, and directors as well," taking an active role in trying to deal with their plight and solve their problems. For this twenty-fifth anniversary edition, McElvaine provides a new foreword recounting the history of the book, its impact on the historiography of the Depression, and its continued importance today.

End This Depression Now!

Author : Paul Krugman
Publisher : W. W. Norton & Company
Page : 290 pages
File Size : 48,9 Mb
Release : 2012-04-30
Category : Political Science
ISBN : 9780393088878

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End This Depression Now! by Paul Krugman Pdf

A New York Times best-selling call to arms from Nobel Prize–winning economist Paul Krugman. The Great Recession is more than four years old—and counting. Yet, as Paul Krugman points out in this powerful volley, "Nations rich in resources, talent, and knowledge—all the ingredients for prosperity and a decent standard of living for all—remain in a state of intense pain." How bad have things gotten? How did we get stuck in what now can only be called a depression? And above all, how do we free ourselves? Krugman pursues these questions with his characteristic lucidity and insight. He has a powerful message for anyone who has suffered over these past four years—a quick, strong recovery is just one step away, if our leaders can find the "intellectual clarity and political will" to end this depression now.

The Great Depression

Author : Robert S. McElvaine
Publisher : Crown
Page : 432 pages
File Size : 40,5 Mb
Release : 2010-10-27
Category : History
ISBN : 9780307774446

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The Great Depression by Robert S. McElvaine Pdf

One of the classic studies of the Great Depression, featuring a new introduction by the author with insights into the economic crises of 1929 and today. In the twenty-five years since its publication, critics and scholars have praised historian Robert McElvaine’s sweeping and authoritative history of the Great Depression as one of the best and most readable studies of the era. Combining clear-eyed insight into the machinations of politicians and economists who struggled to revive the battered economy, personal stories from the average people who were hardest hit by an economic crisis beyond their control, and an evocative depiction of the popular culture of the decade, McElvaine paints an epic picture of an America brought to its knees—but also brought together by people’s widely shared plight. In a new introduction, McElvaine draws striking parallels between the roots of the Great Depression and the economic meltdown that followed in the wake of the credit crisis of 2008. He also examines the resurgence of anti-regulation free market ideology, beginning in the Reagan era, and argues that some economists and politicians revised history and ignored the lessons of the Depression era.

Dirty Thirties Desperadoes

Author : Rich Mole
Publisher : Heritage House Publishing Co
Page : 146 pages
File Size : 44,8 Mb
Release : 2011
Category : History
ISBN : 9781926613956

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Dirty Thirties Desperadoes by Rich Mole Pdf

In October 1935, three Doukhobor farm boys embarked on a violent trail of robbery and murder that stretched from Manitoba to Alberta. By the time the spree ended near Banff, seven people were dead, including the fugitives and four law-enforcement officers. For the next 70 years, these "farm-boy killers" held the distinction of being the RCMP's deadliest adversaries, yet many questions about the shocking case remained unanswered. This gripping narrative reveals surprising new details about the tragic events as it chronicles the disastrous impact of the Great Depression on the young killers and the lawmen who faced them down.

America's First Great Depression

Author : Alasdair Roberts
Publisher : Cornell University Press
Page : 265 pages
File Size : 54,6 Mb
Release : 2012-04-15
Category : History
ISBN : 9780801464676

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America's First Great Depression by Alasdair Roberts Pdf

For a while, it seemed impossible to lose money on real estate. But then the bubble burst. The financial sector was paralyzed and the economy contracted. State and federal governments struggled to pay their domestic and foreign creditors. Washington was incapable of decisive action. The country seethed with political and social unrest. In America's First Great Depression, Alasdair Roberts describes how the United States dealt with the economic and political crisis that followed the Panic of 1837. As Roberts shows, the two decades that preceded the Panic had marked a democratic surge in the United States. However, the nation’s commitment to democracy was tested severely during this crisis. Foreign lenders questioned whether American politicians could make the unpopular decisions needed on spending and taxing. State and local officials struggled to put down riots and rebellion. A few wondered whether this was the end of America’s democratic experiment. Roberts explains how the country’s woes were complicated by its dependence on foreign trade and investment, particularly with Britain. Aware of the contemporary relevance of this story, Roberts examines how the country responded to the political and cultural aftershocks of 1837, transforming its political institutions to strike a new balance between liberty and social order, and uneasily coming to terms with its place in the global economy.

Essays on the Great Depression

Author : Ben S. Bernanke
Publisher : Princeton University Press
Page : 352 pages
File Size : 51,9 Mb
Release : 2024-01-09
Category : Business & Economics
ISBN : 9780691259666

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Essays on the Great Depression by Ben S. Bernanke Pdf

From the Nobel Prize–winning economist and former chair of the U.S. Federal Reserve, a landmark book that provides vital lessons for understanding financial crises and their sometimes-catastrophic economic effects As chair of the U.S. Federal Reserve during the Global Financial Crisis, Ben Bernanke helped avert a greater financial disaster than the Great Depression. And he did so by drawing directly on what he had learned from years of studying the causes of the economic catastrophe of the 1930s—work for which he was later awarded the Nobel Prize. Essays on the Great Depression brings together Bernanke’s influential work on the origins and economic lessons of the Depression, and this new edition also includes his Nobel Prize lecture.

The Great Depression and the New Deal: A Very Short Introduction

Author : Eric Rauchway
Publisher : Oxford University Press
Page : 160 pages
File Size : 48,6 Mb
Release : 2008-03-10
Category : History
ISBN : 9780199716913

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The Great Depression and the New Deal: A Very Short Introduction by Eric Rauchway Pdf

The New Deal shaped our nation's politics for decades, and was seen by many as tantamount to the "American Way" itself. Now, in this superb compact history, Eric Rauchway offers an informed account of the New Deal and the Great Depression, illuminating its successes and failures. Rauchway first describes how the roots of the Great Depression lay in America's post-war economic policies--described as "laissez-faire with a vengeance"--which in effect isolated our nation from the world economy just when the world needed the United States most. He shows how the magnitude of the resulting economic upheaval, and the ineffectiveness of the old ways of dealing with financial hardships, set the stage for Roosevelt's vigorous (and sometimes unconstitutional) Depression-fighting policies. Indeed, Rauchway stresses that the New Deal only makes sense as a response to this global economic disaster. The book examines a key sampling of New Deal programs, ranging from the National Recovery Agency and the Securities and Exchange Commission, to the Public Works Administration and Social Security, revealing why some worked and others did not. In the end, Rauchway concludes, it was the coming of World War II that finally generated the political will to spend the massive amounts of public money needed to put Americans back to work. And only the Cold War saw the full implementation of New Deal policies abroad--including the United Nations, the World Bank, and the International Monetary Fund. Today we can look back at the New Deal and, for the first time, see its full complexity. Rauchway captures this complexity in a remarkably short space, making this book an ideal introduction to one of the great policy revolutions in history. About the Series: Oxford's Very Short Introductions offers concise and original introductions to a wide range of subjects--from Islam to Sociology, Politics to Classics, and Literary Theory to History. Not simply a textbook of definitions, each volume provides trenchant and provocative--yet always balanced and complete--discussions of the central issues in a given topic. Every Very Short Introduction gives a readable evolution of the subject in question, demonstrating how it has developed and influenced society. Whatever the area of study, whatever the topic that fascinates the reader, the series has a handy and affordable guide that will likely prove indispensable.

The Great Persuasion

Author : Angus Burgin
Publisher : Harvard University Press
Page : 314 pages
File Size : 55,7 Mb
Release : 2012-10-30
Category : History
ISBN : 9780674067431

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The Great Persuasion by Angus Burgin Pdf

Just as economists struggle today to justify the free market after the global economic crisis, an earlier generation revisited their worldview after the Great Depression. In this intellectual history of that project, Burgin traces the evolution of postwar economic thought in order to reconsider the most basic assumptions of a market-centered world.

The Politically Incorrect Guide to the Great Depression and the New Deal

Author : Robert Murphy
Publisher : Regnery Publishing
Page : 210 pages
File Size : 44,8 Mb
Release : 2009-03-31
Category : History
ISBN : 9781596980969

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The Politically Incorrect Guide to the Great Depression and the New Deal by Robert Murphy Pdf

Provides irrefutable evidence that not only did government interference with the market cause the Great Depression (and our current economic collapse), but Herbert Hoover's and Franklin Delano Roosevelt's big government policies afterwards made it much longer and much worse.--From publisher description.

Undoing Depression

Author : Richard O'Connor
Publisher : Little, Brown Spark
Page : 380 pages
File Size : 52,9 Mb
Release : 2021-09-28
Category : Self-Help
ISBN : 9780316266956

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Undoing Depression by Richard O'Connor Pdf

The bestselling approachable guide that has inspired thousands of readers to manage or overcome depression — fully revised and updated for life in the 21st century. Depression rates around the world have skyrocketed in the 20‑plus years since Richard O'Connor first published his classic book on living with and overcoming depression. Nearly 40 million American adults suffer from the condition, which affects nearly every aspect of life, from relationships, to job performance, physical health, productivity, and, of course, overall happiness. And in an increasingly stressful and overwhelming world, it's more important than ever to understand the causes and effects of depression, and what we can do to overcome it. In this fully revised and updated edition — which includes updated information on the power of mindfulness, the relationship between depression and other diseases, the risks and side effects of medication, depression’s effect on thinking, and the benefits of exercise — Dr. O'Connor explains that, like heart disease and other physical conditions, depression is fueled by complex and interrelated factors: genetic, biochemical, environmental. But Dr. O'Connor focuses on an additional factor that is often overlooked: our own habits. Unwittingly we get good at depression. We learn how to hide it, and how to work around it. We may even achieve great things, but with constant struggle rather than satisfaction. Relying on these methods to make it through each day, we deprive ourselves of true recovery, of deep joy and healthy emotion. Undoing Depression teaches us how to replace depressive patterns with a new and more effective set of skills. We already know how to "do" depression—and we can learn how to undo it. With a truly holistic approach that synthesizes the best of the many schools of thought about this painful disease, and a critical eye toward medications, O'Connor offers new hope—and new life—for sufferers of depression.

FDR's Folly

Author : Jim Powell
Publisher : Crown
Page : 354 pages
File Size : 44,8 Mb
Release : 2007-12-18
Category : History
ISBN : 9780307420718

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FDR's Folly by Jim Powell Pdf

The Great Depression and the New Deal. For generations, the collective American consciousness has believed that the former ruined the country and the latter saved it. Endless praise has been heaped upon President Franklin Delano Roosevelt for masterfully reining in the Depression’s destructive effects and propping up the country on his New Deal platform. In fact, FDR has achieved mythical status in American history and is considered to be, along with Washington, Jefferson, and Lincoln, one of the greatest presidents of all time. But would the Great Depression have been so catastrophic had the New Deal never been implemented? In FDR’s Folly, historian Jim Powell argues that it was in fact the New Deal itself, with its shortsighted programs, that deepened the Great Depression, swelled the federal government, and prevented the country from turning around quickly. You’ll discover in alarming detail how FDR’s federal programs hurt America more than helped it, with effects we still feel today, including: • How Social Security actually increased unemployment • How higher taxes undermined good businesses • How new labor laws threw people out of work • And much more This groundbreaking book pulls back the shroud of awe and the cloak of time enveloping FDR to prove convincingly how flawed his economic policies actually were, despite his good intentions and the astounding intellect of his circle of advisers. In today’s turbulent domestic and global environment, eerily similar to that of the 1930s, it’s more important than ever before to uncover and understand the truth of our history, lest we be doomed to repeat it.