《被遗忘的萧条》内容简介
重温1918年大流感后的经济崩溃，探寻后疫情时代的经济复苏之路。
2020年年初，美股两周内四度触动熔断机制。第二次熔断发生后，美联储紧急降息；但隔日道琼斯工业指数跌幅接近13%，超越1929年华尔街股灾期间突破单日跌幅纪录，这表示政府介入并没有消除市场焦虑。本书专注于我们应如何应对经济危机。詹姆斯・格兰特在2007—2008年就很有先见之明，他告诫债务泡沫最后会以经济危机而告终。他在本书中以1920—1921年美国为期十八个月的经济衰退为例，说明当时在任的威尔逊总统与继任的哈定总统，皆未试图以预算赤字或美元贬值的手段来提振经济。格兰特主张在经济衰退时，应重视市场“看不见的手”的修复作用。格兰特的历史解说与观点可以为当下提供借鉴。
作者简介
詹姆斯•格兰特(JamesGrant)，美国金融记者，历史学家，纽约历史学会理事，哥伦比亚大学国际关系学硕士，《格兰特利率观察》创始人。1972年，他在《巴尔的摩太阳报》开启了自己的新闻职业生涯。1975年，他加入《巴伦周刊》。他曾在《60分钟》、《查理·罗斯秀》、《CBS晚间新闻》和《华尔街周刊》等电视节目中亮相10年。他的新闻报道经常出现在各种报刊上，包括《金融时报》、《华尔街日报》和《外交事务》等。
A brief introduction to the Forgotten Depression
Relive the economic collapse after the 1918 flu and explore the road to economic recovery in the post-pandemic era.
At the beginning of 2020, US stocks triggered circuit breakers four times in two weeks. After the second circuit breaker, the Fed cut interest rates in an emergency; But the Dow Jones industrial average fell nearly 13% the next day, surpassing the previous record one-day drop during the 1929 Wall Street crash, in a sign that the government's intervention has not calmed market anxiety. This book focuses on how we should respond to the economic crisis. James Grant presciently warned in 2007-2008 that a debt bubble would end in an economic crisis. He cites the 18-month recession of 1920-21 as an example of how neither President Wilson nor his successor, President Harding, tried to boost the economy by running budget deficits or depreciating the dollar. Grant argued for the importance of the "invisible hand" of the market as a repairing force in a recession. Grant's historical explanations and perspectives can offer lessons for the present.
About the author
JamesGrant is an American financial journalist, historian, trustee of the New York Historical Society, master of International Relations at Columbia University, and founder of Grant's Interest Rate Watch. He began his journalism career at the Baltimore Sun in 1972. In 1975, he joined Barron's. He has appeared on TV shows such as "60 Minutes," "The Charlie Rose Show," "CBS Evening News" and "Wall Street Journal" for 10 years. His journalism has appeared regularly in a variety of newspapers, including the Financial Times, The Wall Street Journal, and Foreign Affairs.
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