Source: Brownstone Institute
by Jeffrey A Tucker
“One of the best nonfiction books to appear following the onset of the Great Depression was by the financial journalist Garet Garrett (1878–1954). It is called A Bubble That Broke the World (1931), and it was a bestseller. His analysis was exactly right. This was not a crisis of capitalism, he wrote, but of postwar credit expansions and imbalances. The economic downturn represented the coming due of the bill, and a cry for rebalancing production, consumption, savings, and interest rates in the US and all over the industrialized world. If Garrett is known at all today, it is by those who are captivated by the handful of intellectuals who wrote in opposition to the New Deal planning state and the regimentation of national life that it brought about. They were a rare breed, and largely forgotten. Aside from that, there is much more to Garrett than people know.” (11/06/26)
https://brownstone.org/articles/the-brilliant-but-neglected-novels-of-garet-garrett/