James Grant is the founder of Grant's Interest Rate Observer, a leading journal on financial markets, which he has published since 1983. He is the author of seven books covering both financial history and biography. Grant's journalism has been featured in Financial Times, The Wall Street Journal, and Foreign Affairs. He has appeared on 60 Minutes, Jim Lehrer's News Hour, and CBS Evening News.
"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."--Llewellyn H. Rockwell,
Jr., Chairman, the Mises Institute "Barrons"
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.-- "The Wall Street Journal"