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The Great Depression of the 1930s: Lessons for Today

Online ISBN:
9780191749216
Print ISBN:
9780199663187
Publisher:
Oxford University Press
Book

The Great Depression of the 1930s: Lessons for Today

Nicholas Crafts (ed.),
Nicholas Crafts
(ed.)
Professor of Economic History and Director of the ESRC Competitive Advantage in the Global Economy Research Centre (CAGE)
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Peter Fearon (ed.)
Peter Fearon
(ed.)
Emeritus Professor of Modern Economic History, University of Leicester
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Published online:
23 May 2013
Published in print:
28 February 2013
Online ISBN:
9780191749216
Print ISBN:
9780199663187
Publisher:
Oxford University Press

Abstract

This collection of papers provides an authoritative introduction to the Great Depression as it affected the advanced countries in the 1930s. The contributions are by acknowledged experts in the field and cover in detail the experiences of Britain, Germany, and, of course, the United States while also seeing the depression as an international disaster. The crisis entailed the collapse of the international monetary system, sovereign default, and banking crises in many countries in the context of the most severe downturn in western economic history. The responses included protectionism, regulation, fiscal and monetary stimulus, and the New Deal. The relevance to current problems facing Europe and the United States is apparent. The essays are written at a level which will be comprehensible to advanced undergraduates in economics and history while also being a valuable source of reference for policy makers grappling with the current economic crisis. Knowing about the Great Depression should be part of every economist’s education. The book will be of interest to modern macroeconomists and students of interwar history alike and seeks to bring the results of modern research in economic history to a wide audience. The focus is not only on explaining how the Great Depression happened, but also on understanding what eventually led to the recovery from the crisis. A key feature is that every chapter has a full list of bibliographical references which can be a platform for further study.

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