During the 1936 Democratic National Convention, President Franklin Roosevelt famously stated, “There is a mysterious cycle in human events. To some generations, much is given. Of other generations, much is expected.” The Encyclopedia of American Recessions and Depressions focuses primarily on the mysterious cycle of economic downturns throughout the history of the United States and on these generations of Americans where much was expected, specifically to help the country emerge from the economic abyss of their time.

The scope of this two-volume set is quite comprehensive. Fourteen of the most significant economic depressions and recessions are covered, spanning from the turbulent years shortly after the conclusion of the American Revolution up to the Great Recession of 2008–2009. Organized chronologically, each recession or depression is comprised of an in-depth essay written by an expert on the time period. In addition, there are numerous short form, traditional reference entries, spanning one to three pages in length, that expound on the significant people, events, issues, and legislation germane to each particular downturn. Peppered with eye-catching images of relevant documents and illustrations, each entry concludes with citations for further reading on the topic, which is always an appreciated feature.

Perhaps the most impressive feature of this encyclopedia is the collection of primary documents included in the appendix. At least one primary document is provided for each economic downturn, with the total number of primary documents contained exceeding one hundred. These kinds of primary sources, often coveted by history students in an academic setting, are highly effective in putting each major economic downturn into a cultural and societal context that makes an already strong reference source truly exceptional. This section of primary documents, combined with a lengthy bibliography of additional sources and alphabetical index of each entry, results in an appendix that is just as valuable as the information contained within each of the main entries.

Considering the far-reaching coverage of recessions and depressions and related topics contained within this set, as well as the exhaustive topical entries, primary documents, and selected bibliography, the Encyclopedia of American Recessions and Depressions becomes easy to recommend. This encyclopedia would be a welcome and valuable addition to any academic library.