Understanding the Great Depression and Failures of Modern Economic Policy PDF Download
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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: Dan Blatt
Publisher: iUniverse
ISBN: 1491799048
Category : Business & Economics
Languages : en
Pages : 284
Get Book Here
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: 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 : 1047
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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.
Author: Nadine Rossol
Publisher: Oxford University Press
ISBN: 0198845774
Category : History
Languages : en
Pages : 849
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Book Description
The Weimar Republic was a turbulent and pivotal period of German and European history and a laboratory of modernity. The Oxford Handbook of the Weimar Republic provides an unsurpassed panorama of German history from 1918 to 1933, offering an indispensable guide for anyone interested in the fascinating history of the Weimar Republic.
Author: Dalibor Rohac
Publisher: Rowman & Littlefield
ISBN: 153812081X
Category : Political Science
Languages : en
Pages : 171
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Book Description
Countering our divisive times, this innovative book makes the conservative case in favor of international organizations and cooperation. Dalibor Rohac persuasively argues that far from undermining national sovereignty, the mechanisms of international cooperation have been instrumental to humankind’s freedom, prosperity, and peace. Moreover, he shows that unlike the caricature of international cooperation as a top-down imposition, in reality it is characterized by extreme institutional diversity. Its structures have typically emerged from the bottom up, in response to concrete challenges transcending national borders. Moving beyond empty political rhetoric, Rohac's meticulous research and clear analysis assess and explains the strengths, flaws, and relevant trade-offs of different forms of global governance. A powerful rebuttal to the temptations of nationalist populism, his work is a call to arms for thoughtful people on the center right to defend the central tenets of the post-WWII international order.
Author: Beatriz Armendariz
Publisher: MIT Press
ISBN: 0262533154
Category : Political Science
Languages : en
Pages : 424
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Book Description
Analysis of Latin America's economy focusing on development, covering the colonial roots of inequality, boom and bust cycles, labor markets, and fiscal and monetary policy. Latin America is richly endowed with natural resources, fertile land, and vibrant cultures. Yet the region remains much poorer than its neighbors to the north. Most Latin American countries have not achieved standards of living and stable institutions comparable to those found in developed countries, have experienced repeated boom-bust cycles, and remain heavily reliant on primary commodities. This book studies the historical roots of Latin America's contemporary economic and social development, focusing on poverty and income inequality dating back to colonial times. It addresses today's legacies of the market-friendly reforms that took hold in the 1980s and 1990s by examining successful stabilizations and homemade monetary and fiscal institutional reforms. It offers a detailed analysis of trade and financial liberalization, twenty–first century-growth, and the decline in poverty and income inequality. Finally, the book offers an overall analysis of inclusive growth policies for development—including gender issues and the informal sector—and the challenges that lie ahead for the region, with special attention to pressing demands by the vibrant and vocal middle class, youth unemployment, and indigenous populations.
