About this item
By the publisher of the prestigious Grants Interest Rate Observer, an account of the deep economic slump of 192021 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 200709 recession, in whose aftereffects, Grant asserts, the nation still toils. James Grant tells the story of Americas 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 20072009. In 192021, 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.
About the Author
James Grant, financial journalist and historian, is the founder and editor of Grant's Interest Rate Observer, a twice-monthly journal of the investment markets. His book, The Forgotten Depression, 1921: the Crash that Cured Itself, a history of America's last governmentally unmedicated business-cycle downturn, won the 2015 Hayek Prize of the Manhattan Institute for Policy Research. His new book, "The Greatest Victorian: The Life and Times of Walter Bagehot," will be published in 2019. Among his other books on finance and financial history are Bernard M. Baruch: The Adventures of a Wall Street Legend (Simon & Schuster, 1983) , Money of the Mind (Farrar, Straus & Giroux, 1992) , Minding Mr. Market (Farrar, Straus, 1993) , The Trouble with Prosperity (Times Books, 1996) , and Mr. Market Miscalculates (Axios Press, 2008) . He is, in addition, the author of a pair of political biographies: John Adams: Party of One, a life of the second president of the United States (Farrar, Straus, 2005) and Mr. Speaker! The Life and Times of Thomas B. Reed, the Man Who Broke the Filibuster (Simon & Schuster, 2011) . Mr. Grant's television appearances include "60 Minutes," "The Charlie Rose Show," "CBS Evening News," and a 10-year stint on "Wall Street Week". His journalism has appeared in a variety of periodicals, including the Financial Times, The Wall Street Journal and Foreign Affairs. He contributed an essay to the Sixth Edition of Graham and Dodd's Security Analysis (McGraw-Hill, 2009) . Mr. Grant, a former Navy gunner's mate, is a Phi Beta Kappa alumnus of Indiana University. He earned a master's degree in international relations from Columbia University and began his career in journalism in 1972, at the Baltimore Sun. He joined the staff of Barron's in 1975 where he originated the "Current Yield" column. He is a trustee of the New York Historical Society. He and his wife, Patricia Kavanagh M.D., live in Brooklyn. They are the parents of four grown children.
