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The Great Depression
by Thomas E. Hall J. David FergusonThe Great Depression was the worst economic catastrophe in modern history. Not only did it cause massive worldwide unemployment, but it also led to the rise of Adolf Hitler in Germany, World War II in Europe, and the tragic deaths of tens of millions of people. This book describes the sequence of policy errors committed by powerful, well-meaning people in several countries, which, in combination with the gold standard in place at the time, caused the disaster. In addition, it details attempts to reduce unemployment in the United States by Franklin Roosevelt's New Deal, and in Germany by Hitler's National Socialist economic policies. A comprehensive economic and historical explanation of the events pertaining to the Depression, this book begins by describing the economic setting in the major industrialized countries during the 1920s and the gold standard that linked theory economies together. It then discusses the triggering event that started the economic decline--the Federal Reserve's credit tightening in reaction to perceived overspeculation in the U. S. stock market. The policy bungling that transformed the recession into the Great Depression is detailed: Smoot Hawley, the Federal Reserve's disastrous adherence to the real bills doctrine, and Hoover's 1932 tax hike. This is followed by a detailed description of the New Deal's shortcomings in trying to end the Depression, along with a discussion of the National Socialist economic programs in Germany. Finally, the factors that ended the Depression are examined. This book will appeal to economists, historians, and those interested in business conditions who would like to know more about the causes and consequences of the Great Depression. It will be particularly useful as a supplementary text in economic history courses. Thomas E. Hall and J. David Ferguson are both Professors of Economics, Miami University.
Great Depression: Causes and Impact (Abridged)
by Thomas K. MccrawProvides a vehicle for discussing the problems caused by the Great Depression.
The Great Depression: America 1929-1941
by Robert S. McelvaineOne of the classic studies of the Great Depression, featuring a new introduction by the author with insights into the economic crises of 1929 and today. In the twenty-five years since its publication, critics and scholars have praised historian Robert McElvaine's sweeping and authoritative history of the Great Depression as one of the best and most readable studies of the era. Combining clear-eyed insight into the machinations of politicians and economists who struggled to revive the battered economy, personal stories from the average people who were hardest hit by an economic crisis beyond their control, and an evocative depiction of the popular culture of the decade, McElvaine paints an epic picture of an America brought to its knees--but also brought together by people's widely shared plight. In a new introduction, McElvaine draws striking parallels between the roots of the Great Depression and the economic meltdown that followed in the wake of the credit crisis of 2008. He also examines the resurgence of anti-regulation free market ideology, beginning in the Reagan era, and argues that some economists and politicians revised history and ignored the lessons of the Depression era.From the Trade Paperback edition.
The Great Depression
by Benjamin RothWhen the stock market crashed in 1929, Benjamin Roth was a young lawyer in Youngstown, Ohio. After he began to grasp the magnitude of what had happened to American economic life, he decided to set down his impressions in his diary. This collection of those entries reveals another side of the Great Depressionuone lived through by ordinary, middle-class Americans, who on a daily basis grappled with a swiftly changing economy coupled with anxiety about the unknown future. RothOCOs depiction of life in time of widespread foreclosures, a schizophrenic stock market, political unrest and mass unemployment seem to speak directly to readers today.
The Great Depression: America in the 1930s
by T. H. WatkinsA companion volume to the fall PBS series chronicles the devastation caused by the nation's most serious economic upheaval, offering parallels with America's present economic woes.
The Great Depression (20th Century Perspectives)
by David DowningThrough this book, readers will learn: why October 29, 1929, is known as "Black Tuesday"; what the "Dust Bowl" was and how it added to the misery of the Great Depression; and what President Roosevelt's "New Deal" programs accomplished.
The Great Depression Ahead: How to Prosper in the Crash Following the Greatest Boom in History
by Harry S. Dent Jr.The first and last economic depression that you will experience in your lifetime is just ahead. The year 2009 will be the beginning of the next long-term winter season and the initial end of prosperity in almost every market, ushering in a downturn like most of us have not experienced before. Are you aware that we have seen long-term peaks in our stock market and economy very close to every 40 years due to generational spending trends: as in 1929, 1968, and next around 2009? Are you aware that oil and commodity prices have peaked nearly every 30 years, as in 1920, 1951, 1980 -- and next likely around late 2009 to mid-2010? The three massive bubbles that have been booming for the last few decades -- stocks, real estate, and commodities -- have all reached their peak and are deflating simultaneously. Bestselling author and renowned economic forecaster Harry S. Dent, Jr., has observed these trends for decades. As he first demonstrated in his bestselling The Great Boom Ahead, he has developed analytical techniques that allow him to predict the impact they will have. The Great Depression Ahead explains "The Perfect Storm" as peak oil prices collide with peaking generational spending trends by 2010, leading to a more severe downtrend for the global economy and individual investors alike. He predicts the following: The economy appears to recover from the subprime crisis and minor recession by mid-2009 -- "the calm before the real storm." Stock prices start to crash again between mid- and late 2009 into late 2010, and likely finally bottom around mid-2012 -- between Dow 3,800 and 7,200. The economy enters a deeper depression between mid-2010 and early 2011, likely extending off and on into late 2012 or mid-2013. Asian markets may bottom by late 2010, along with health care, and be the first great buy opportunities in stocks. Gold and precious metals will appear to be a hedge at first, but will ultimately collapse as well after mid- to late 2010. A first major stock rally, likely between mid-2012 and mid-2017, will be followed by a final setdback around late 2019/early 2020. The next broad-based global bull market will be from 2020-2023 into 2035-2036. Conventional investment wisdom will no longer apply, and investors on every level -- from billion-dollar firms to the individual trader -- must drastically reevaluate their policies in order to survive. But despite the dire news and dark predictions, there are real opportunities to come from the greatest fire sale on financial assets since the early 1930s. Dent outlines the critical issues that will face our government and other major institutions, offering long- and short-term tactics for weathering the storm. He offers recommendations that will allow families, businesses, investors, and individuals to manage their assets correctly and come out on top. With the right knowledge and preparation, you can take advantage of new wealth opportunities rather than get caught in a downward spiral. Your life is about to change for reasons outside of your control. You can't change the direction of the winds, but you can reset your sails!
The Great Depression and the New Deal: A Very Short Introduction
by Eric RauchwayThe New Deal shaped our nation's politics for decades, and was seen by many as tantamount to the "American Way" itself. Now, in this superb compact history, Eric Rauchway offers an informed account of the New Deal and the Great Depression, illuminating its successes and failures. Rauchway first describes how the roots of the Great Depression lay in America's post-war economic policies--described as "laissez-faire with a vengeance"--which in effect isolated our nation from the world economy just when the world needed the United States most. He shows how the magnitude of the resulting economic upheaval, and the ineffectiveness of the old ways of dealing with financial hardships, set the stage for Roosevelt's vigorous (and sometimes unconstitutional) Depression-fighting policies. Indeed, Rauchway stresses that the New Deal only makes sense as a response to this global economic disaster. The book examines a key sampling of New Deal programs, ranging from the National Recovery Agency and the Securities and Exchange Commission, to the Public Works Administration and Social Security, revealing why some worked and others did not. In the end, Rauchway concludes, it was the coming of World War II that finally generated the political will to spend the massive amounts of public money needed to put Americans back to work. And only the Cold War saw the full implementation of New Deal policies abroad--including the United Nations, the World Bank, and the International Monetary Fund. Today we can look back at the New Deal and, for the first time, see its full complexity. Rauchway captures this whole in a remarkably short space, making this book an ideal introduction to one of the great policy revolutions in history.
The Great Depression (Cornerstones of Freedom, 2nd Series)
by Elaine LandauChildren's book on the Great Depression, from October 1929 when the stock market collapsed, through the 1930s, until America recovered.
The Great Depression in American History
by David K. FremonThis is a description of the history surrounding the Great Depression, highlighting the causes and key figures.
The Great Depression Of 1990: Why It's Got To Happen - How To Protect Yourself
by Ravi Batra"Southern Methodist University economics professor Batra bases his prediction of a "great depression" around 1990 on a pattern of 30- and 60-year recession-depression cycles in the U.S. dating back to the 1780s. He cites factors leading to the stock market crash of 1929 that also are present today: intense concentration of wealth, a depressed farm economy, heavy speculation, bank vulnerability, protectionist trade sentiment and fiscal corruption." Publishers Weekly
The Great Depression of Debt
by Warren BrusseeThis book takes a close look at today's economy and offers a bleak prediction for its future. However, those positioned to handle dramatic shifts in consumer spending, the mortgage industry, and the stock market are at a great advantage.Author Warren Brussee offers insight into the coming economic situation and provides steps to prepare for it. For example, he recommends that savings be in Treasury Inflation Protected Securities until the stock market drops 73% from its 2004 level. Methods of determining when the stock market is again a good buy are defined, and different investment options are evaluated. Even during a depression, people will need to save for their future, and Brussee provides detailed charts that show retirement savings requirements.
The Great Depression Of The 1930s: Lessons For Today
by Nicholas Crafts Peter FearonUnderstanding the Great Depression has never been more relevant than in today's economic crisis. This edited collection 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, 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. <p><p> The chapters 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. 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.
The Great Depression (We The People)
by Michael BurganProvides information on the history and effects that the Great Depression had on the United States people and the economy. Also explains President Franklin D. Roosevelt's "New Deal".
The Great Devaluation: How to Embrace, Prepare, and Profit from the Coming Global Monetary Reset
by Adam Baratta#1 Business Bestseller (Wall Street Journal, Amazon, USA Today) The Great Devaluation may be one of the most timely books ever written on the state of the global economy. Baratta sums it up simply enough with the following idea: &“What seems crazy in normal times becomes necessary in a crisis.&” The Great Devaluation is the #1 bestselling book that explains why the real crisis facing the world today is not the Coronavirus. The real crisis facing the world is explosive government debt and deficits. Governments are now left with no choice but to spend more than they make, borrow more than they can ever repay, and devalue their currencies to cover it all up. Former Hollywood storyteller Adam Baratta brings monetary policy to life in this follow-up to his national bestseller, Gold Is A Better Way. You&’ll learn how and why Federal Reserve polices have facilitated an explosion in government debt and have systematically undermined the world financial system in the name of profit. The result? An out of control system where financial inequality has become a ticking time bomb set to blow up the global economy.
The Great Disruption: Seize Opportunities to Innovate in Tough Times
by Scott D. AnthonyIt's natural to assume that tough times would be particularly hard on companies that are passionate about growth and innovation. But history and common wisdom suggest that every crisis presents opportunities. Innovation can flourish, even in the toughest economic climates. In this chapter, Scott Anthony, innovation expert, explains why postponing disruptive innovation efforts until better times could mean missing powerful growth opportunities and creating space for competitors to create substantial competitive advantage in tomorrow's growth markets. The chapter also highlights examples of companies and innovations that have thrived in tough economic times. This chapter was originally published as chapter 1 of "The Silver Lining: An Innovation Playbook for Uncertain Times."
The Great Disruption: Competing and Surviving in the Second Wave of the Industrial Revolution
by Rick Smith Mitch FreeThe Great Disruption reveals how 3D printing manufacturing will transform the world in the same way that Henry Ford's Model T upended transportation or Gutenberg's printing press started an information revolution. It traces both the impact of this disruption as it rapidly spreads around the world and affects every kind of industry imaginable, while detailing specific steps that can and should be taken right now to prepare.The 3D manufacturing revolution is pervasive and growing rapidly, and includes such major breakthroughs as:- A machine in Amsterdam that can 3D print a bridge over a canal underneath it using no support or scaffolding- A global auto manufacturer designing a car that automatically changes its physical shape and structure in response to current driving conditions- A scientist in London experimenting with 3D printing material that is two hundred times stronger than steel- A Harvard researcher who is 3D printing batteries the size of a single grain of sand- An astronaut who is printing replacement parts in space--and a shipping executive who is doing the same thing on cargo shipsIn exploring this radical future, The Great Disruption shows how we can position ourselves to successfully navigate this historic shift to our greatest benefit.
The Great Disruption: How Business is Coping with Turbulent Times (Economist Books)
by Adrian WooldridgeThe Great Disruption is a collection drawn from Adrian Wooldridge's influential Schumpeter columns in The Economist addressing the causes and profound consequences of the unprecedented disruption of business over the past five years. The Great Disruption has many causes. The internet is spreading faster than any previous technology. Emerging markets are challenging the west’s dominance of innovation as well as manufacturing. Clever management techniques such as "frugal innovation” are forcing companies to rethink pricing. Robots are advancing from the factory floor into the service sector. But these developments are all combining together to shake business life--and indeed life in general--to its foundations. The Great Disruption is producing a new class of winners, many of whom are still unfamiliar: Asian has more female billionaires and CEOs than Europe, for example. It is also producing a growing class of losers: old-fashioned universities that want to continue to operate in the world of talk and chalk; companies that refuse to acknowledge that competition is now at warp speed; and business people who think that we still live in the world of company man. It is forcing everybody to adapt or die: workers realise that they will have to jump from job to job--and indeed from career to career--and institutions realise that they need to remain adaptable and flexible. The Great Disruption is all the more testing because it coincides with the Great Stagnation. The financial crisis has not only reduced most people’s living standards in the west. It has also revealed that the boom years of 2000-20007 were built on credit: individuals and governments were borrowing money to pay for lifestyles that no longer had any real justification. Employees are having to cope with unprecedented change at a time when they are also seeing their incomes flat or declining. Companies are having to respond to revolutionary innovations even as they are seeing their overall markets contract. We are all having to run faster in order to stay in the same place. This book begins with a long introduction explaining the thesis of the book and setting it in a broad historical context. It will also introduce readers to Joseph Schumpeter and explain why his ideas about creative destruction are particularly valuable today.
The Great Divergence: China, Europe, and the Making of the Modern World Economy (The Princeton Economic History of the Western World #28)
by Kenneth PomeranzThe Great Divergence brings new insight to one of the classic questions of history: Why did sustained industrial growth begin in Northwest Europe, despite surprising similarities between advanced areas of Europe and East Asia? As Ken Pomeranz shows, as recently as 1750, parallels between these two parts of the world were very high in life expectancy, consumption, product and factor markets, and the strategies of households. Perhaps most surprisingly, Pomeranz demonstrates that the Chinese and Japanese cores were no worse off ecologically than Western Europe. Core areas throughout the eighteenth-century Old World faced comparable local shortages of land-intensive products, shortages that were only partly resolved by trade.Pomeranz argues that Europe's nineteenth-century divergence from the Old World owes much to the fortunate location of coal, which substituted for timber. This made Europe's failure to use its land intensively much less of a problem, while allowing growth in energy-intensive industries. Another crucial difference that he notes has to do with trade. Fortuitous global conjunctures made the Americas a greater source of needed primary products for Europe than any Asian periphery. This allowed Northwest Europe to grow dramatically in population, specialize further in manufactures, and remove labor from the land, using increased imports rather than maximizing yields. Together, coal and the New World allowed Europe to grow along resource-intensive, labor-saving paths.Meanwhile, Asia hit a cul-de-sac. Although the East Asian hinterlands boomed after 1750, both in population and in manufacturing, this growth prevented these peripheral regions from exporting vital resources to the cloth-producing Yangzi Delta. As a result, growth in the core of East Asia's economy essentially stopped, and what growth did exist was forced along labor-intensive, resource-saving paths--paths Europe could have been forced down, too, had it not been for favorable resource stocks from underground and overseas.
Great Divergence and Great Convergence
by Leonid Grinin Andrey KorotayevThis new monograph provides a stimulating new take on hotly contested topics in world modernization and the globalizing economy. It begins by situating what is called the Great Divergence--the social/technological revolution that led European nations to outpace the early dominance of Asia--in historical context over centuries. This is contrasted with an equally powerful Great Convergence, the recent economic and technological expansion taking place in Third World nations and characterized by narrowing inequity among nations. They are seen here as two phases of an inevitable global process, centuries in the making, with the potential for both positive and negative results. This sophisticated presentation examines: Why the developing world is growing more rapidly than the developed world. How this development began occurring under the Western world's radar. How former colonies of major powers grew to drive the world's economy. Why so many Western economists have been slow to recognize the Great Convergence. The increasing risk of geopolitical instability. Why the world is likely to find itself without an absolute leader after the end of the American hegemony A work of rare scope, Great Divergence and Great Convergence gives sociologists, global economists, demographers, and global historians a deeper understanding of the broader movement of social and economic history, combined with a long view of history as it is currently being made; it also offers some thrilling forecasts for global development in the forthcoming decades.
The Great Divergence: Europe and Modern Economic Growth
by Sophus A. ReinertThe continent of Europe seemed in the spring of 2015 to be in a weaker position relative to other world regions than it had in centuries. Though comparatively small, it had long played a disproportionate role in world history, to the extent that the modern world system of states itself in large parts had been created in the wake of European imperialism. This case examines the deep history of Europe's so-called "Great Divergence," the means by which it achieved "modern economic growth" and conquered large parts of the known world, and the consequences of this moment for the past, present, and future of capitalism.
The Great Divergence Reconsidered
by Roman StuderContrary to popular narratives, Market Integration in Europe and India shows that Europe's rise to its current status as an undisputed world economic leader was not the effect of the Industrial Revolution, nor can it be explained by coal or colonial exploitation. Using a wealth of new historical evidence stretching from the seventeenth to the twentieth century, Roman Studer shows that the Great Divergence occurred in the seventeenth century, if not earlier. When compared to India and other parts of the Asiatic world, early modern Europe was characterized by a more powerful transportation system, bigger trade flows, larger and better integrated markets, higher productivity levels, and superior living standards, even before the Industrial Revolution brought about far-reaching structural changes and made Europe's supremacy even more pronounced. Thus, an interplay of various factors best explains Europe's early and gradual rise, including better institutions, favorable geographical features, increasing political stability, and increasingly rapid advances in science and technology.
The Great Divide: Unequal Societies and What We Can Do About Them
by Joseph E. StiglitzHow has America become the most unequal advanced country in the world, and what can we do about it? In The Great Divide, Joseph E. Stiglitz expands on the diagnosis he offered in his best-selling book The Price of Inequality and suggests ways to counter America's growing problem. With his signature blend of clarity and passion, Stiglitz argues that inequality is a choice--the cumulative result of unjust policies and misguided priorities. Gathering his writings for popular outlets including Vanity Fair and the New York Times, Stiglitz exposes in full America's inequality: its dimensions, its causes, and its consequences for the nation and for the world. From Reagan-era to the Great Recession and its long aftermath, Stiglitz delves into the irresponsible policies--deregulation, tax cuts, and tax breaks for the 1 percent--that are leaving many Americans farther and farther beyond and turning the American dream into an ever more unachievable myth. With formidable yet accessible economic insight, he urges us to embrace real solutions: increasing taxes on corporations and the wealthy; offering more help to the children of the poor; investing in education, science, and infrastructure; helping out homeowners instead of banks; and, most importantly, doing more to restore the economy to full employment. Stiglitz also draws lessons from Scandinavia, Singapore, and Japan, and he argues against the tide of unnecessary, destructive austerity that is sweeping across Europe. Ultimately, Stiglitz believes our choice is not between growth and fairness; with the right policies, we can choose both. His complaint is not so much about capitalism as such, but how twenty-first-century capitalism has been perverted. His is a call to confront America's economic inequality as the political and moral issue that it is. If we reinvest in people and pursue the other policies that he describes, America can live up to the shared dream of a more prosperous, more equal society.