The Forgotten Depression

The Forgotten Depression
Author: James Grant
Publisher: Simon and Schuster
Total Pages: 272
Release: 2014
Genre: Business & Economics
ISBN: 1451686463

"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"--

Standard Federal Tax Reporter

Standard Federal Tax Reporter
Author: Commerce Clearing House
Publisher:
Total Pages: 990
Release: 1925
Genre: Excess profits tax
ISBN:

Includes legislation, court decisions, Tax Court cases, rulings, and current comments.

The 1921 Tulsa Race Massacre

The 1921 Tulsa Race Massacre
Author: Chris M. Messer
Publisher: Springer Nature
Total Pages: 109
Release: 2021-06-12
Genre: History
ISBN: 3030746798

This book examines the Tulsa Race Massacre of 1921, perhaps the most lethal and financially devastating instance of collective violence in early twentieth-century America. The Greenwood district, a comparably prosperous black community spanning thirty-five city blocks, was set afire and destroyed by white rioters. This work analyzes the massacre from a sociological perspective, extending an integrative approach to studying its causes, the organizational responses that followed, and the complicated legacy that remains.