National Review, December 4th, 1987
The Great Depression
by John A. Garraty (Harcourt Brace, 292 pp., $17.95)
THE AMERICAN historian John Garraty has ventured into the labyrinth of international history to explain the causes, course, and consequences of the Great Depression. He has emerged with answers that are unsurprising at best and unsatisfying at worst. The Great Lost Hero of the Great Depression was--guess who--John Maynard Keynes. Garraty believes that purposeful inflation was a way out of the economic doldrums, and he dubs Lord Keynes "by far the most original of the inflationists,' although he concedes that Keynes's...
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