The Great Depression, 1929-1938: Lessons for the 1980sHoover Institution Press, 1984 - 134 pages Economists as diverse in approach as Lord Keynes and Milton Friedman have analyzed the causes of the Great Depression, and their answers have ranged from underconsumption to failings in monetary policy. In Part 1 of The Great Depression, Christian Saint-Etienne compares these theories with economic statistics for the interwar period and adds a further explanation: a collapse in international trade initiated by the Hawley-Smoot Tariff in the United States. Part 2 studies the economic history of the 1970s and the early 1980s to assess the likelhood of a depression in the 1980s. Among the author's recommendations for preventing a recurrence are free trade, reform of the international banking system, and coordination of the monetary policies of the major industrial nations. |
Contents
The Evolution and Causes of the Great Depression | 3 |
Interwar Monetary and Fiscal Policies in | 34 |
A Theoretical Appraisal of the Great Depression | 43 |
Copyright | |
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The Great Depression, 1929-1938: Lessons for the 1980s Christian Saint-Etienne No preview available - 1984 |
Common terms and phrases
adjustment Anna Schwartz BILLIONS OF U.S. borrowing Britain British business cycle capital causes changes collapse comparative advantage crisis current account current-account deficit demand for real Depression devaluation domestic economic activity Economic Outlook Washington evolution ex ante ex ante demand exchange rates external debt farm sector Federal Reserve fell fiscal policy foreign France Germany gold standard Hawley-Smoot Tariff imports increased inflation institutions interbank deposits interest rates international economy international trade investment Japan June markets monetary policy national income non-oil developing countries OECD oil shock oil-exporting countries Paris payments percent in 1981 percentage private sector rate of growth Rational Expectations real activity real money balances real terms recession reduced scarce resources scenario September seven industrial countries share of exports short-term SOURCE stabilized stock of money structural Table tional U.S. Congress U.S. Department U.S. DOLLARS U.S. economy uncertainty unemployment United Kingdom World Economic Outlook world trade
References to this book
Australia in the Global Economy: Continuity and Change David Meredith,Barrie Dyster No preview available - 1999 |