The slide to protectionism in the great depression : who succumbed and why? PDF Download
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Author: Barry J. Eichengreen
Publisher:
ISBN:
Category : Protectionism
Languages : en
Pages : 50
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Book Description
The Great Depression was marked by protectionist trade policies and the breakdown of the multilateral trading system. But contrary to the presumption that all countries scrambled to raise trade barriers, there was substantial cross-country variation in the movement to protectionism. Specifically, countries that remained on the gold standard resorted to tariffs, import quotas, and exchange controls to a greater extent than countries that went off gold. Just as the gold standard constraint on monetary policy is critical to understanding macroeconomic developments in this period, national policies toward the exchange rate help explain changes in trade policy. This suggests that trade protection in the 1930s was less an instance of special interest politics run amok than second-best macroeconomic policy management when monetary and fiscal policies were constrained.
Author: Barry J. Eichengreen
Publisher:
ISBN:
Category : Protectionism
Languages : en
Pages : 50
Get Book Here
Book Description
The Great Depression was marked by protectionist trade policies and the breakdown of the multilateral trading system. But contrary to the presumption that all countries scrambled to raise trade barriers, there was substantial cross-country variation in the movement to protectionism. Specifically, countries that remained on the gold standard resorted to tariffs, import quotas, and exchange controls to a greater extent than countries that went off gold. Just as the gold standard constraint on monetary policy is critical to understanding macroeconomic developments in this period, national policies toward the exchange rate help explain changes in trade policy. This suggests that trade protection in the 1930s was less an instance of special interest politics run amok than second-best macroeconomic policy management when monetary and fiscal policies were constrained.
Author: Dan Blatt
Publisher: iUniverse
ISBN: 1491799048
Category : Business & Economics
Languages : en
Pages : 284
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Book Description
HISTORY OPENS WINDOWS ON THE FUTURE. The Great Depression highlights your government’s capacity for economic policy stupidity. Do you understand the policy failures behind the Crash of ‘29? Or the policies involved in the aborting of the substantial spring 1930 economic and stock market recovery? Or the policies that prevented the spectacular summer 1932 bull market in stocks and agricultural commodities from stimulating recovery in the broader economy? Or how New Deal policies extended the Great Depression for an additional half decade despite more than doubling the monetary supply and massive resort to budget deficits? Or how the Great Depression ended in 1940 with unemployment dropping about 7 percentage points in the two years before the U.S. entered WW-II and began its massive wartime budget deficits? The Great Depression is just a highlight in a century of repeated failures for Federal Reserve System monetary policy. Under its care, the dollar has lost about 90 percent of its purchasing power. Its policies have also bestowed upon the economy the Keynesian inflationary morass of the 1970s and the asset price boom and bust nature of the current business cycle. Understanding why interest rate suppression policies aren’t working, haven’t worked in the past, and can never work is herein explained.
Author: Nicholas Crafts
Publisher: OUP Oxford
ISBN: 0191640093
Category : Business & Economics
Languages : en
Pages : 474
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Book Description
Understanding the Great Depression has never been more relevant than in today's economic crisis. This edited collection provides an authoritative introduction to the Great Depression as it affected the advanced countries in the 1930s. The contributions are by acknowledged experts in the field and cover in detail the experiences of Britain, Germany, and, the United States, while also seeing the depression as an international disaster. The crisis entailed the collapse of the international monetary system, sovereign default, and banking crises in many countries in the context of the most severe downturn in western economic history. The responses included protectionism, regulation, fiscal and monetary stimulus, and the New Deal. The relevance to current problems facing Europe and the United States is apparent. The chapters are written at a level which will be comprehensible to advanced undergraduates in economics and history while also being a valuable source of reference for policy makers grappling with the current economic crisis. The book will be of interest to modern macroeconomists and students of interwar history alike and seeks to bring the results of modern research in economic history to a wide audience. The focus is not only on explaining how the Great Depression happened but also on understanding what eventually led to the recovery from the crisis. A key feature is that every chapter has a full list of bibliographical references which can be a platform for further study.
Author: Thomas D. Lairson
Publisher: Routledge
ISBN: 1134111932
Category : Political Science
Languages : en
Pages : 514
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Book Description
This text offers a rethinking of the field of international political economy in an era of growing but uneven globalization. Even as global integration advances, states play central roles as partners with the largest of global firms, as the catalysts of competitiveness and economic growth, as the creators of global institutions, and in promoting and responding to global interdependence. Indeed, the struggle for power and wealth within and among states underscores the primacy of politics in understanding current realities. At the same time, new issues and actors complicate the global agenda as it expands to address the environment, global health, and food security. By offering a clear explanation of basic concepts, contextualizing the presentation of theoretical debates, and placing current events in historical context, International Political Economy ensures students a deep understanding of how the global economy works and the ways in which globalization affects their lives and those of people around the world. Key Content and Features Engages debates over the reach and significance of globalization. Examines the sources and consequences of global financial instability. Explores the origins and consequences of global inequality. Compares various strategies of development and state roles in competitiveness. Discusses the role of key international economic institutions. Considers the impact of the rise of China on the global economy and the potential for war and peace. Illustrates collective efforts to fight hunger, disease, and environmental threats. Includes numerous graphs and illustrations throughout and end of chapter discussion questions. Links key concepts for each chapter to a glossary at the end of the book. Provides a list of acronyms at the outset and annotated further readings at the end of each chapter. Offers additional resources on a web site related to the text, including a list of links to IPE-related web pages.
Author: Michael Callaghan
Publisher: Springer Science & Business Media
ISBN: 8132216598
Category : Business & Economics
Languages : en
Pages : 293
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Book Description
At the outbreak of the global financial crisis, 2008, the G20 was widely acknowledged as helping prevent an even more serious decline in the global economy. It helped to calm the panic in financial markets and articulate a set of possible policy options to restore global stability and growth. However, as the dual-track recovery set in, policy options for advanced economies and EMEs diverged. Within this context, this book will explore the scope for cooperation amongst the G20 and the diverging challenges and the intricate interconnectedness of policy options between advanced economies and the EMEs within the G20.
Author: Justin Yifu Lin
Publisher: Cambridge University Press
ISBN: 1107292670
Category : Business & Economics
Languages : en
Pages : 279
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Book Description
In June 2008, Justin Yifu Lin was appointed Chief Economist of the World Bank, right before the eruption of the worst global financial and economic crisis since the Great Depression. Drawing on experience from his privileged position, Lin offers unique reflections on the cause of the crisis, why it was so serious and widespread, and its likely evolution. Arguing that conventional theories provide inadequate solutions, he proposes new initiatives for achieving global stability and avoiding the recurrence of similar crises in the future. He suggests that the crisis and the global imbalances both originated with the excess liquidity created by US financial deregulation and loose monetary policy, and recommends the creation of a global Marshall Plan and a new supranational global reserve currency. This thought-provoking book will appeal to academics, graduate students, policy makers, and anyone interested in the global economy.
Author: CQ Researcher,
Publisher: CQ Press
ISBN: 154437481X
Category : Political Science
Languages : en
Pages : 1002
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Book Description
Written by award-winning CQ Researcher journalists, this annual collection of nonpartisan and thoroughly researched reports focuses on 16 hot-button policy issues. The Twenty-First Edition of Issues for Debate in American Public Policy promotes in-depth discussion, facilitates further research, and helps readers formulate their own positions on crucial policy issues. And because it is CQ Researcher, the policy reports are expertly researched and written, showing readers all sides of an issue. Because this annual volume comes together just months before publication, all selections are brand new and explore some of today’s most significant American public policy issues, including: Renewable energy debate; Domestic poverty; film industry disruption; The retirement crunch; Abortion controversies; The 2020 Census; Title IX and Campus Sexual Assault; Regulating Health and Safety; Prescription Drug Costs; E-Cigarette Dilemma; School Safety; and Much more! Package and save! Issues for Debate in American Public Policy: Selections from CQ Researcher, Twenty-First Edition can be bundled with any SAGE | CQ Press title at a savings for your students. Contact your rep for more details.
Author: Richard S. Grossman
Publisher: Oxford University Press
ISBN: 0199322201
Category : Business & Economics
Languages : en
Pages : 291
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Book Description
In recent years, the world has been rocked by major economic crises, most notably the devastating collapse of Lehman Brothers, the largest bankruptcy in American history, which triggered the breathtakingly destructive sub-prime disaster. What sparks these vast economic calamities? Why do our economic policy makers fail to protect us from such upheavals? In Wrong, economist Richard Grossman addresses such questions, shining a light on the poor thinking behind nine of the worst economic policy mistakes of the past 200 years, missteps whose outcomes ranged from appalling to tragic. Grossman tells the story behind each misconceived economic move, explaining why the policy was adopted, how it was implemented, and its short- and long-term consequences. In each case, he shows that the main culprits were policy makers who were guided by ideology rather than economics. For instance, Wrong looks at how America's unfounded fear of a centralized monetary authority caused them to reject two central banks, condemning the nation to wave after wave of financial panics. He describes how Britain's blind commitment to free markets, rather than to assisting the starving in Ireland, led to one of the nineteenth century's worst humanitarian tragedies- the Irish famine. And he shows how Britain's reestablishment of the gold standard after World War I, fuelled largely by a desire to recapture its pre-war dominance, helped to turn what would otherwise have been a normal recession into the Great Depression. Grossman also explores the Smoot-Hawley Tariff of 1930, Japan's lost decade of the 1990s, the American subprime crisis, and the present European sovereign debt crisis. Economic policy should be based on cold, hard economic analysis, Grossman concludes, not on an unquestioning commitment to a particular ideology. Wrong shows what happens when this sensible advice is ignored.
Author: The Emirates Center for Strategic Studies and Research
Publisher: Emirates Center for Strategic Studies and Research
ISBN: 9948340507
Category : Antiques & Collectibles
Languages : en
Pages : 67
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Book Description
Futures studies are particularly important in our contemporary world, indispensable for countries and institutions alike. Unprecedented rapid developments in all fields require continuous efforts, from countries and individuals, to explore the future and draw up plans to keep pace with the latest developments. Moreover, countries that aspire to strengthen their economic position, and see citizens reach their full potential by providing the highest standards of welfare, should base strategies for the future on rational, objective studies. In this context, The Emirates Center for Strategic Studies and Research’s (ECSSR) 23rd Annual Conference, ‘Futures Studies’, merits special attention, as it tackled a critical subject that is of great interest for strategic planners and decision-makers, particularly in the United Arab Emirates (UAE). This is especially significant as the UAE pursues future plans in accordance with its ambitious aspirations to become the best country in the world by its centennial in 2071. This book documents the key proceedings and discussions of the ECSSR’s 23rd Annual Conference. Through its seven chapters, researchers examine the most important areas pertaining to futures studies. The first chapter looks at the evolution of warfare over the last two centuries and discusses the ways these changes have impacted paradigms of political stability. The second chapter discusses international relations in the post-globalization era. The third chapter examines the Sapiens 5.0 (S5.0) manifesto, which includes advancing interdisciplinary and future-focused solutions. The fourth chapter reviews the revolutionary aspects of genomic medicine, while the fifth chapter discusses bacterial resistance to antibiotics, which has developed into a global crisis affecting the world’s health and economic well-being. The sixth chapter examines ageing communities and the need to redesign healthcare systems. Finally, the seventh chapter highlights social networking technology and the media of the future.
Author: Phil Mullan
Publisher: Emerald Group Publishing
ISBN: 183982560X
Category : Business & Economics
Languages : en
Pages : 256
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Book Description
Beyond Confrontation by Phil Mullan negotiates a third way between the rules-based global order dictated by Western globalists and the mercantilist protectionism of Western nationalists, both of which only fuel resentments between developed and emerging nations.
