Author: William Clifford ClarkPublisher:
ISBN:
Category : Depressions
Languages : en
Pages : 24
Book Description
Business Cycles and the Depression of 1920 to 1921
Author: William Clifford ClarkPublisher:
ISBN:
Category : Depressions
Languages : en
Pages : 24
Book Description
The Forgotten Depression
Author: James GrantPublisher: Simon and Schuster
ISBN: 1451686463
Category : Business & Economics
Languages : en
Pages : 272
Book Description
"By the publisher of the prestigious Grant's Interest Rate Observer, an account of the deep economic slump of 1920-21 that proposes, with respect to federal intervention, "less is more." This is a free-market rejoinder to the Keynesian stimulus applied by Bush and Obama to the 2007-09 recession, in whose aftereffects, Grant asserts, the nation still toils. James Grant tells the story of America's last governmentally-untreated depression; relatively brief and self-correcting, it gave way to the Roaring Twenties. His book appears in the fifth year of a lackluster recovery from the overmedicated downturn of 2007-2009. In 1920-21, Woodrow Wilson and Warren G. Harding met a deep economic slump by seeming to ignore it, implementing policies that most twenty-first century economists would call backward. Confronted with plunging prices, wages, and employment, the government balanced the budget and, through the Federal Reserve, raised interest rates. No "stimulus" was administered, and a powerful, job-filled recovery was under way by late in 1921. In 1929, the economy once again slumped--and kept right on slumping as the Hoover administration adopted the very policies that Wilson and Harding had declined to put in place. Grant argues that well-intended federal intervention, notably the White House-led campaign to prop up industrial wages, helped to turn a bad recession into America's worst depression. He offers the experience of the earlier depression for lessons for today and the future. This is a powerful response to the prevailing notion of how to fight recession. The enterprise system is more resilient than even its friends give it credit for being, Grant demonstrates"--
Business Cycles and the Depression of 1920-1
Author: William Clifford ClarkPublisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 490
Book Description
Business Cycles and the Depression of 1920-1
Author: William Clifford ClarkPublisher: Andesite Press
ISBN: 9781296804992
Category :
Languages : en
Pages : 30
Book Description
This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
America's Great Depression
Author: Murray Newton RothbardPublisher: Ludwig von Mises Institute
ISBN: 1610161378
Category : Business & Economics
Languages : en
Pages : 412
Book Description
Applied Austrian economics doesn't get better than this. Murray N. Rothbard's America's Great Depression is a staple of modern economic literature and crucial for understanding a pivotal event in American and world history. The book remains canonical today because the debate is still very alive. This book applies Austrian business cycle theory to understanding the onset of the 1929 Great Depression. Rothbard first summarizes the Austrian theory and offers a criticism of competing theories, including the views of Keynes. Rothbard then considers Federal Reserve policy in the 1920s, showing its inflationary character. The influence of Benjamin Strong, the Governor of the New York Federal Reserve Bank, was especially important. In part, his expansionary policy was motivated by his desire to help Britain sustain the pound. Strong was close friends with Montagu Norman, the Governor of the Bank of England. After the 1929 crash, Herbert Hoover followed an interventionist policy that prefigured the New Deal. He favored keeping wage rates high and thus contributed to rising unemployment. Against the popular stereotype, Rothbard shows that Hoover was not a partisan of laissez-faire.
Business Cycles and the Depression of 1920-1 (Classic Reprint)
Author: William Clifford ClarkPublisher: Forgotten Books
ISBN: 9781334238819
Category : Business & Economics
Languages : en
Pages : 32
Book Description
Excerpt from Business Cycles and the Depression of 1920-1 Another business cycle has about run its course. If one may hazard a guess based on previous experience and on a few current indices, we are somewhere near the middle of the busi ness depression which is liquidating the artificial boom of the war and the post-armistice period. As this is being written, in July, the between seasons month, normal midsummer dullness has aggravated the cyclical depression and the general tone of the business world has been not inaptly characterized as one of enthusiastic pessimism. Bad news is doubtless still in store for some trades; probably for business as a whole it may be next March before the worst is reached; and perhaps after that, recovery may be very gradual and halting. Yet funda mentally there is reason for confidence and courage. Indeed now almost for the first time, those who face facts squarely find solid ground for optimism. The gradual but substantial measure of liquidation already achieved, the increasing realiza tion of the necessity of a restored economic equilibrium 'on the part of groups like the building trades which had long resisted the inevitable, the settlement of some major strikes and the avoidance of others, the improved transportation situation, the easing of money rates, the back-to - work move ment in most European countries, and the improved political situation lead one to believe that we are already near the bottom and that the rest of the descent need not be so danger ously rapid as to result in a crash. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Business Cycles and the Depression of 1920-21
Author: William Clifford ClarkPublisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 24
Book Description
The Depression of 1920-1921
Author: Patrick NewmanPublisher:
ISBN:
Category :
Languages : en
Pages : 50
Book Description
This paper examines the American post-WW1 boom and bust. It finds that the Federal Reserve's monetary easing from 1919-1920 created an Austrian Business Cycle (ABC), or an unsustainable credit boom. The collapse of the boom initiated the Depression of 1920-1921. The subsequent laissez faire policy promoted a swift recovery. In particular, the recovery began following a severe liquidation of firms, reallocation of resources, and wage cuts stimulated by fiscal and monetary contraction. Contrary to some other accounts, we find that significant recovery began before the Federal Reserve's 1921-1922 monetary easing affected the economy. We also address other criticisms of the credit-cycle interpretation.
Economic Depression
Author: Fouad SabryPublisher: One Billion Knowledgeable
ISBN:
Category : Business & Economics
Languages : en
Pages : 400
Book Description
What is Economic Depression A period of sustained economic decline that is carried out over an extended length of time and is the consequence of decreased economic activity in one or more major national economies is referred to as an economic depression. There is a possibility that economic depression is associated with a particular nation in which there is a worsening of an existing economic crisis; however, the majority of the time, it is a nostalgic reaction to the Great Depression in the United States of America and other similar economic conditions that may be recognized as existing in some country, several countries, or even in many countries. Within the field of economics, it is well acknowledged that economic crises and the subsequent recession, which may be referred to as economic depression, are components of economic cycles. These cycles are characterized by the slowing of the economy after the expansion of the economy and vice versa. The recession itself is a slowdown in economic activity that occurs during the course of the typical business cycle of a developing economy. This recession is the outcome of more severe economic troubles or a downturn than the recession itself. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Economic depression Chapter 2: Recession Chapter 3: Business cycle Chapter 4: Causes of the Great Depression Chapter 5: Global financial system Chapter 6: Long Depression Chapter 7: Early 2000s recession Chapter 8: Economic collapse Chapter 9: Financial crisis Chapter 10: Baring crisis Chapter 11: Deleveraging Chapter 12: Great Moderation Chapter 13: Great Depression Chapter 14: Great Recession Chapter 15: Deflation Chapter 16: Global recession Chapter 17: Depression of 1920-1921 Chapter 18: Economic bubble Chapter 19: 1990s United States boom Chapter 20: Depression of 1882-1885 Chapter 21: Economic recovery (II) Answering the public top questions about economic depression. (III) Real world examples for the usage of economic depression in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of economic depression.
Business Cycles and the Depression of 1920-1 - Primary Source Edition
Author: William Clifford ClarkPublisher: Nabu Press
ISBN: 9781295889327
Category :
Languages : en
Pages : 30
Book Description
This is a reproduction of a book published before 1923. This book may have occasional imperfections such as missing or blurred pages, poor pictures, errant marks, etc. that were either part of the original artifact, or were introduced by the scanning process. We believe this work is culturally important, and despite the imperfections, have elected to bring it back into print as part of our continuing commitment to the preservation of printed works worldwide. We appreciate your understanding of the imperfections in the preservation process, and hope you enjoy this valuable book.