Fall Down Seven Times Get Up Eight?

2019 ◽  
pp. 1-30
Author(s):  
Alan Bollard
Keyword(s):  
Great Depression ◽  
Military Spending ◽  
The Elderly ◽  
Macroeconomic Policies ◽  
The Great Depression ◽  
Japanese Military ◽  
Elderly Japanese ◽  
European Markets

The chapter opens in 1936 with rebel soldiers of the Japanese Army creeping through the snow to assassinate the elderly Japanese Minister of Finance, Takahashi Korekiyo. He was a remarkable self-taught Japanese, many times Minister of Finance, who learned his economic and financial skills raising funding in European markets to finance the Japanese-Russian War. He managed bank crises and saved his country from the Great Depression with an innovative range of pre-Keynesian macroeconomic policies. However his attempts to cut military spending ran into intense opposition from the Japanese military who were intent on invading Manchuria, and a group of fanatic soldiers ultimately assassinated him.

scholarly journals An Overview of the Evolution of Modern Macroeconomic Theories

2020 ◽  
Vol 9 (2) ◽  
Author(s):  
Zijian Liang ◽  
Michael Silber
Keyword(s):  
Economic Theory ◽  
Monetary Policy ◽  
Fiscal Policy ◽  
Great Depression ◽  
Phillips Curve ◽  
18Th Century ◽  
The United States ◽  
Macroeconomic Policies ◽  
The Great Depression ◽  
Classical Economic

This paper examines the evolution of macroeconomic theories from the 18th century to present. The manuscript starts off on giving a short analysis on the Great Depression and how it sparked numerous changes in macroeconomic policies. Then, the Classical Economic Theory is introduced and its shortcomings are examined through the Panic of 1873. Next, the paper's focus will shift to a deeper analysis on the causes, impacts, and the recovery of the Great Depression and the effects it had on the United States economy. Keynesianism and the benefits of fiscal policy are introduced and reasons for the rejection of the Classical Economic theory are explained. William Phillips' Phillips Curve is then introduced and connections between Phillips' theory and Keynes' theory are made. Lastly, the paper will examine the effects of monetary policy in the 1970s and the recent Great Recession of 2008. Most importantly, the reasons modern economists like Friedman oppose fiscal policy and Keynesianism are interpreted. From the works of these economists, the central argument of the paper advocates for the fact that we can no longer rely on the Classical Economic theory during times of economic crisis. The modern economy should be observing both Keynesianism and Monetarism; we should be pursuing expansionary fiscal policy during times of downturns and contractionary monetary policy during times of economic boom.

Remaking the Heartland

2011 ◽  
Author(s):  
Robert Wuthnow
Keyword(s):  
Great Depression ◽  
Social Institutions ◽  
Small Towns ◽  
Rapid Expansion ◽  
Social Transformations ◽  
The Great Depression ◽  
Objective Observer ◽  
The 1950S ◽  
Changing Times ◽  
Middle West

For many Americans, the Middle West is a vast unknown. This book sets out to rectify this. It shows how the region has undergone extraordinary social transformations over the past half-century and proven itself surprisingly resilient in the face of such hardships as the Great Depression and the movement of residents to other parts of the country. It examines the heartland's reinvention throughout the decades and traces the social and economic factors that have helped it to survive and prosper. The book points to the critical strength of the region's social institutions established between 1870 and 1950—the market towns, farmsteads, one-room schoolhouses, townships, rural cooperatives, and manufacturing centers that have adapted with the changing times. It focuses on farmers' struggles to recover from the Great Depression well into the 1950s, the cultural redefinition and modernization of the region's image that occurred during the 1950s and 1960s, the growth of secondary and higher education, the decline of small towns, the redeployment of agribusiness, and the rapid expansion of edge cities. Drawing arguments from extensive interviews and evidence from the towns and counties of the Midwest, the book provides a unique perspective as both an objective observer and someone who grew up there. It offers an accessible look at the humble yet strong foundations that have allowed the region to endure undiminished.

The Great Depression: past and present

1976 ◽  
Vol 11 (1) ◽  
pp. 41-50 ◽  
Author(s):  
Michiel Horn
Keyword(s):  
Great Depression ◽  
The Great Depression
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