Jim Grant, the founder of Grant’s Interest Rate Observer, has been named the winner of the 2015 Hayek Book Prize for his book “The Forgotten Depression: 1921: The Crash that Cured Itself” (Simon & Schuster).
Grant will receive a $50,000 award and will deliver the annual Hayek lecture in New York in June.
Amity Shlaes, who chairs the jury for the prize, said, “At a time when the automatic response of governments to a recession is to intervene, Grant reminds us that the opposite response, no intervention, has also worked.”
The prize is given annually by the Manhattan Institute.
Grant founded Grant’s Interest Rate Observer, a twice-monthly journal of the financial markets, in 1983, two years after interest rates recorded their modern-day highs. He previously worked for Barron’s and for the Baltimore Sun.
