Understanding Economic Recovery in the 1930s: Endogenous Propagation in the Great Depression

Understanding Economic Recovery in the 1930s: Endogenous Propagation in the Great Depression

by Frank G. Steindl
     
 

ISBN-10: 0472113488

ISBN-13: 9780472113484

Pub. Date: 12/01/2003

Publisher: University of Michigan Press


Although much has been published about the economic downturn that began in mid-1929, very little has been written about the recovery from this cataclysmic period. Long, tortuous, and uneven as it was, there was indeed a recovery. In this important book, Steindl explores the much-neglected topic of the recovery, concentrating in particular on the macroeconomic

Overview


Although much has been published about the economic downturn that began in mid-1929, very little has been written about the recovery from this cataclysmic period. Long, tortuous, and uneven as it was, there was indeed a recovery. In this important book, Steindl explores the much-neglected topic of the recovery, concentrating in particular on the macroeconomic developments responsible for the move back to a pre-Depression level economy.

Providing strong evidence for the role of the quantity of money in the revitalization, the author ultimately concludes that the seemingly robust monetary explanation of the recovery is deficient, as is any that relies principally on aggregate demand impulses. An accurate understanding of this phenomenon must account for the inherent tendency of the economy to revert to its long-run high employment trend.

Frank G. Steindl is Regents Professor of Economics and Ardmore Professor of Business Administration, Oklahoma State University.

Product Details

ISBN-13:
9780472113484
Publisher:
University of Michigan Press
Publication date:
12/01/2003
Pages:
228
Product dimensions:
6.20(w) x 9.10(h) x 0.80(d)

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