America’s Depressions

1920-21 DEPRESSION

Out of Work: Unemployment and Government in 20th Century America, Richard K. Vedder and Lowell E. Gallaway, 1993.

noted that the magnitude of the 1920 depression “exceeded that for the Great Depression of the following decade for several quarters.” The estimated gross national product plunged 24% from $91.5 billion in 1920 to $69.6 billion in 1921. The number of unemployed people jumped from 2.1 million in 1920 to 4.9 million in 1921.

GREAT DEPRESSION, 1929-1941

The Causes of the Economic Crisis: And Other Essays Before and After the Great Depression, Ludwig von Mises, 1931.

America’s Great Depression, Murray Rothbard, 1963.

The Forgotten Depression: 1921: The Crash that Cured Itself, James Grant, 2015.

The Forgotten Man, a New History of the Great Depression, Amity Shlaes, 2008.