Munich Personal RePEc Archive

Review of Ravi Batra, The Great Depression of 1990

Armstrong, J. Scott (1988): Review of Ravi Batra, The Great Depression of 1990. Published in: International Journal of Forecasting No. 4 (1988): pp. 493-495.

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The Great Depression of 1990 was on the New York Times best-seller list for non-fiction in the summer of 1987. It follows a standard formula for best sellers in forecasting: Forecast a great disaster, and include a formula for redemption. If the disaster occurs, you can say, "I told you so." If it doesn't occur, you say, "It is good that they listened to my advice. I saved them." How can you lose? When I first saw this book, it occurred to me that it was a hoax.

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