Mass Production, the Stock Market Crash, and the Great Depression: The Macroeconomics of Electrification
Economists and historians view the events of the 1920s, the stock market boom and crash, the Great Depression and the New Deal, as being largely independent. This work presents an integrated, empirically-consistent view of this important period arguing that all of these events can be traced back to a paradigm technology shock, namely the electrification of U.S. industry from 1910 to 1926. The author goes from electrification through the stock market boom to the tariffs of the late 20s to the stock market crash and depression followed by the National Industrial Recovery Act in 1933.

1115202171
Mass Production, the Stock Market Crash, and the Great Depression: The Macroeconomics of Electrification
Economists and historians view the events of the 1920s, the stock market boom and crash, the Great Depression and the New Deal, as being largely independent. This work presents an integrated, empirically-consistent view of this important period arguing that all of these events can be traced back to a paradigm technology shock, namely the electrification of U.S. industry from 1910 to 1926. The author goes from electrification through the stock market boom to the tariffs of the late 20s to the stock market crash and depression followed by the National Industrial Recovery Act in 1933.

18.95 In Stock
Mass Production, the Stock Market Crash, and the Great Depression: The Macroeconomics of Electrification

Mass Production, the Stock Market Crash, and the Great Depression: The Macroeconomics of Electrification

by Bernard C Beaudreau
Mass Production, the Stock Market Crash, and the Great Depression: The Macroeconomics of Electrification

Mass Production, the Stock Market Crash, and the Great Depression: The Macroeconomics of Electrification

by Bernard C Beaudreau

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Overview

Economists and historians view the events of the 1920s, the stock market boom and crash, the Great Depression and the New Deal, as being largely independent. This work presents an integrated, empirically-consistent view of this important period arguing that all of these events can be traced back to a paradigm technology shock, namely the electrification of U.S. industry from 1910 to 1926. The author goes from electrification through the stock market boom to the tariffs of the late 20s to the stock market crash and depression followed by the National Industrial Recovery Act in 1933.


Product Details

ISBN-13: 9780595323340
Publisher: iUniverse, Incorporated
Publication date: 06/27/2004
Series: Contributions in Economics and Economic History
Pages: 208
Product dimensions: 5.90(w) x 8.90(h) x 0.60(d)

About the Author

BERNARD C. BEAUDREAU is an Associate Professor of Economics at Universite Laval in Quebec. Dr. Beaudreau is interested in the economics of technological change, energy economics, ecological economics and related subjects.

Table of Contents

Preface and Introduction
The Miracle at the Ford Motor Company
The Fordization of America
The First Policy Responses--Smoot-Hawley Tariff Bill of 1929
The Stock Market Crash
The Great Despression
The Second Policy Response--The National Industrial Recovery Act of 1933
A Model of Macroeconomic Coordination Failures
Estimating Potential U.S. GNP, 1925-1945
Oversupply and Underincome--The Historical Record
The Aftermath
Closing the Gap--1930-1945
The Electrification of U.S. Industry and the Demise of the Gold Standard
Conclusions
Appendix 1--Chronology of the Events Leading to the Stock Market Crash
Appendix 2--The National Industrial Recovery Act of 1933
Appendix 3--Basic Statistical Data
Bibliography
Index
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