A Modern Ever-normal Granary

by Benjamin Graham (1937)


Benjamin Graham

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When Benjamin Graham wrote Storage and Stability in 1937, the world was in the midst of the Great Depression. Written as a blueprint for economic recovery, the book was designed to spur both governments and the public to greater financial awareness. Based upon years of research and economic modeling, Graham's new theories focused on the inherent importance of supply and demand, production and consumption, and their inherent influences on value investing.

Storage and Stability outlines Graham's revolutionary plan for regulating supply and demand, stabilizing prices, and stimulating financial recovery. With disciplined thought and determined logic the author presents a specific strategy for collecting an excess of raw materials in a commodity reserve on a self-financing basis and then making it available for consumption when needed. According to Graham, this innovative storage plan would then serve to adjust supply and demand, stabilize prices, and increase the overall standard of living.

(from flyleaf of 1998 reprint)


Published by McGraw-Hill 1937, reprinted 1998.

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