Class, politics, and economic policy at a critical juncture: Canada and the Anglo-American “family of nations” in the Great Depression of the 1930s

2021 ◽  
Vol 102 (2) ◽  
pp. 182-202
Author(s):  
Adnan Türegün
Keyword(s):  
Economic Policy ◽  
Great Depression ◽  
American Family ◽  
Class Politics ◽  
Critical Juncture ◽  
The Great Depression ◽  
Anglo American

The Primal Force of the Great Depression

2017 ◽  
Author(s):  
John Kenneth Galbraith
Keyword(s):  
Economic Policy ◽  
Classical Tradition ◽  
Great Depression ◽  
The Other ◽  
Vulnerable Groups ◽  
Stock Market Crash ◽  
The Great Depression ◽  
Classical Economic ◽  
The Impact ◽  
The Brain

This chapter examines the impact of the Great Depression on classical economic ideas. When the Great Depression struck after the stock market crash of October 1929, economists in the classical tradition such as Joseph Schumpeter and Lionel Robbins chose to do nothing. They argued that the depression must be allowed to run its course. The chapter first considers U.S. economic policy under Franklin D. Roosevelt, focusing on how he addressed three visible features of the depression: deflation in prices, unemployment, and the hardship depression suffered by especially vulnerable groups. It also discusses the views of two scholars who belonged to the group known as the Roosevelt Brains Trust (later the Brain Trust), Rexford Guy Tugwell and Adolf A. Berle Jr. Finally, it explores how depression and price deflation led to two efforts to raise prices, one through the National Recovery Act and the other through agriculture.

scholarly journals Come fermare una grande recessione. Il dibattito sulla crisi economica del 1929 in Italia

2021 ◽  
pp. 19-41
Author(s):  
Antonio Magliulo
Keyword(s):  
Economic Policy ◽  
Great Depression ◽  
International Debate ◽  
Convergent Synthesis ◽  
Policy Choices ◽  
The Great Depression ◽  
Economic Culture ◽  
Fascist Regime ◽  
The Republic ◽  
Post War

The aim of this essay is to assess how the debate on the Great Depression of 1929 changed Italian economic culture in the transition from Fascism to the Republic. The essay is divided into three paragraphs. In the first, we will look at the international debate dominated by the dispute between Hayek and Keynes and by Röpke’s synthesis. In the second, we will analyse the debate in Italy, which is characterised by the convergent synthesis proposed by Bresciani Turroni, Einaudi and Fanno. The last section will outline the economic policy choices of the Fascist regime and the legacy of the debate on the great crisis in the period of post-war reconstruction

scholarly journals BUSINESS CYCLES, GROWTH, AND ECONOMIC POLICY: SCHUMPETER AND THE GREAT DEPRESSION

2016 ◽  
Vol 39 (1) ◽  
pp. 19-33 ◽  
Author(s):  
Muriel Dal Pont Legrand ◽  
Harald Hagemann
Keyword(s):  
Economic Policy ◽  
Economic Development ◽  
Business Cycles ◽  
Great Depression ◽  
Essential Role ◽  
Economic Issues ◽  
The Great Depression ◽  
Long Run ◽  
Beneficial Impact ◽  
Over Time

Joseph A. Schumpeter’s theory of economic development analyzes how growth and cycle dynamics intertwine. The process of creative destruction plays an essential role in those dynamics: embodying a cleansing effect, it has a clear, beneficial impact on long-run development. For that reason, and also for some of his famous (and provocative) non-interventionist statements, Schumpeter is generally interpreted as a pure liquidationist. This paper contests this rather simplistic view and shows that Schumpeter not only expressed much more nuanced positions as far as practical economic issues were concerned, but also that his views on economic policy were rooted in his earlier contributions before the Great Depression, attesting that Schumpeter’s view on economic policy was consistent over time.

scholarly journals Wie Deflationen entstehen - und was (nicht nur) die SPD von Brüning gelernt hat

2004 ◽  
Vol 34 (134) ◽  
pp. 105-122 ◽  
Author(s):  
Michael Heine
Keyword(s):  
Economic Policy ◽  
Federal Government ◽  
Great Depression ◽  
The Great Depression ◽  
Wage Cuts

During the years 1930 - 1932 the Bruning government tried to fight against the results of the Great Depression with wage cuts and liscal restraint. In this they followed the advice of the neo-classical school of economics. This article shows that the economic policy of both the SPD-Green Federal Government and the SPD-PDS coalition in Berlin is based on the same logic, but - compared to Bruning - with even weaker arguments. As a result the danger of a deflationary spiral will increase.

The Politics of Consumer Debt

2012 ◽  
Vol 644 (1) ◽  
pp. 40-49 ◽  
Author(s):  
Louis Hyman
Keyword(s):  
Twentieth Century ◽  
Economic Policy ◽  
Great Depression ◽  
State Power ◽  
Private Investment ◽  
Consumer Debt ◽  
Policy Makers ◽  
The Great Depression

Facing a crisis of idle capital during the Great Depression, policy-makers developed new ways to promote private investment for public ends. Throughout the twentieth century, the use of state power to guide investment has been a powerful, and now largely ignored, tool of economic policy.

scholarly journals The economics of the COVID-19 pandemic: an assessment

2020 ◽  
Vol 36 (Supplement_1) ◽  
pp. S1-S13 ◽  
Author(s):  
Daniel Susskind ◽  
David Vines
Keyword(s):  
Economic Policy ◽  
Conceptual Framework ◽  
International Cooperation ◽  
Great Depression ◽  
Economic Crisis ◽  
Policy Makers ◽  
The Great Depression ◽  
Introductory Essay ◽  
Medical Crisis ◽  
Spanish Flu

Abstract The COVID-19 pandemic has created both a medical crisis and an economic crisis. As others have noted, we face challenges just as big as those in the Spanish Flu Pandemic and the Great Depression—all at once. The tasks facing policy-makers are extraordinary. Many new kinds of intervention are urgently required. This issue of the Oxford Review of Economic Policy has two objectives. The first is to explore these new interventions: evaluating their use, suggesting how they might be improved, and proposing alternatives. The second is to show that the challenges facing us are global and will require international cooperation if they are to be dealt with effectively. This short introductory essay positions the papers in the issue within an overall conceptual framework, with the aim of telling an overarching story about the pandemic.

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