The Forgotten Depression: 1921: The Crash That Cured Itself
by James Grant
Chronicles the brief but steep U.S. slump of 1920-1921, showing how markets adjusted and activity revived with minimal government action.
About This Book
The Forgotten Depression examines the severe but swiftly resolved economic contraction that struck the United States after World War I.
Drawing on contemporary records and market data, the narrative traces the rapid deflation, falling output, and subsequent recovery without extensive federal intervention.
The account situates the episode within the broader context of early-twentieth-century monetary policy and postwar readjustment.
Readers gain a clear view of how prices, wages, and production responded to the downturn and the ensuing rebound.
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