Economics, Econometrics and Finance
3 years ago

Uncovering Forgotten Monetary Theories Could Have Prevented Great Depression Catastrophe

1 view
Palgrave studies in the history of economic thought
Pre-Keynesian Monetary Theories of the Great Depression: Whatever Happened to Hawtrey and Cassel? (with Ronald W. Batchelder)
David Glasner

Paper Summary

The Great Depression was not caused by inherent flaws in capitalism, but by mistakes in trying to restore the gold standard after World War I. Hawtrey and Cassel predicted this catastrophe due to unlimited demand for gold. Their insights were overlooked, leading to the belief that the Depression was solely the result of Federal Reserve errors.

Related papers

Economics, Econometrics and Finance
4 years ago

France's Gold Hoarding Blamed for Worldwide Deflation During Great Depression

Macroeconomic Analysis
International Finance
Development in Italy
2 views
Economics, Econometrics and Finance
4 years ago

Deflation of 1930-32 Anticipated: High Real Interest Rates Revealed.

Macroeconomic Analysis
Macroeconomic Trends
Economic Governance
2 views
Economics, Econometrics and Finance
4 years ago

Deflation and depression not empirically linked, study finds.

International Finance
Economic Growth
Macroeconomic Analysis
2 views