| Description |
1 online resource. |
| Physical Medium |
polychrome |
| Description |
text file |
| Series |
Independent studies in political economy
|
|
Independent studies in political economy.
|
| Bibliography |
Includes bibliographical references and index. |
| Contents |
Introduction -- From the Wall Street crash to the first banking panic -- The German crisis of 1931 -- The "liquidity trap" of 1932 -- A foolproof plan for reflation -- The NIRA and the hidden depression -- The rubber dollar -- The demise of the gold bloc -- The gold panic -- The midas curse and the Roosevelt depression -- The influence of the depression on macroeconomic thought -- Concluding remarks -- Theoretical issues in modeling the Great Depression. |
| Summary |
Economic historians have made great progress in unraveling the causes of the Great Depression, but not until Scott Sumner came along has anyone explained the multitude of twists and turns the economy took. In The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression, Sumner offers his magnum opus the first book to comprehensively explain both monetary and non-monetary causes of that cataclysm. Drawing on financial market data and contemporaneous news stories, Sumner shows that the Great Depression is ultimately a story of incredibly bad policymaking by central bankers, legislators, and two presidents especially mistakes related to monetary policy and wage rates. He also shows that macroeconomic thought has long been captive to a false narrative that continues to misguide policymakers in their quixotic quest to promote robust and sustainable economic growth. The Midas Paradox is a landmark treatise that solves mysteries that have long perplexed economic historians, and corrects misconceptions about the true causes, consequences, and cures of macroeconomic instability. Like Milton Friedman and Anna J. Schwartz's A Monetary History of the United States, 1867-1960, it is one of those rare books destined to shape all future research on the subject.-- Provided by publisher. |
| Local Note |
eBooks on EBSCOhost EBSCO eBook Subscription Academic Collection - North America |
| Subject |
Depressions -- 1929 -- United States.
|
|
Depressions. |
| Chronological Term |
1929 |
| Subject |
United States. |
|
Monetary policy -- United States -- History -- 20th century.
|
|
Monetary policy. |
|
History. |
| Chronological Term |
20th century |
| Subject |
United States -- Economic policy -- 20th century.
|
|
Economic policy. |
| Chronological Term |
1900-1999 |
| Genre/Form |
Electronic books.
|
|
History.
|
| Other Form: |
Print version: Sumner, Scott B. Midas paradox. Oakland, California : Independent Institute, [2015] 9781598131505 (DLC) 2013043553 (OCoLC)865543783 |
| ISBN |
9781598131536 (electronic book) |
|
1598131532 (electronic book) |
|
9781598131529 (electronic book) |
|
1598131524 (electronic book) |
|
9781598131505 |
|
1598131508 |
|
9781598131512 |
|
1598131516 |
|
