IDEAS home Printed from https://ideas.repec.org/a/bla/ecaffa/v26y2006i3p70-73.html
   My bibliography  Save this article

The Great Contraction

Author

Listed:
  • W. Spencer Kocher

Abstract

Many historians in the United States (and many teachers in US high schools and colleges) still attribute the Great Depression to the following: the breakdown of capitalism; excessive reliance on laissez‐faire policies; inequality of wealth; overproduction and stock market speculation. These purported causes led to the implementation of the New Deal: well‐intended, but ultimately ineffective, policies that actually prolonged the duration of the depression. A retrospective analysis of the actions taken by the Federal Reserve, in fact, demonstrate that the Great Depression was caused, in large part, by a massive contraction of the money supply.

Suggested Citation

  • W. Spencer Kocher, 2006. "The Great Contraction," Economic Affairs, Wiley Blackwell, vol. 26(3), pages 70-73, September.
    • Handle: RePEc:bla:ecaffa:v:26:y:2006:i:3:p:70-73
    DOI: 10.1111/j.1468-0270.2006.00653.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1468-0270.2006.00653.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1468-0270.2006.00653.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Milton Friedman & Anna Jacobson Schwartz, 1965. "Introduction to "The Great Contraction, 1929–33"," NBER Chapters, in: The Great Contraction, 1929–33, pages 1-5, National Bureau of Economic Research, Inc.
    2. Milton Friedman & Anna J. Schwartz, 1965. "The Great Contraction, 1929–33," NBER Books, National Bureau of Economic Research, Inc, number frie65-1, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Angelo Federico Arcelli & Reiner Stefano Masera & Giovanni Tria, 2021. "Da Versailles a Bretton Woods e ai giorni nostri: errori storici e modelli ancora attuali per un sistema monetario internazionale sostenibile (From Bretton Woods to our days: Historic mistakes and mod," Moneta e Credito, Economia civile, vol. 74(296), pages 249-273.
    2. Barry Eichengreen, 2012. "Macroeconomic and Financial Policies Before and After the Crisis," Chapters, in: Maurice Obstfeld & Dongchul Cho & Andrew Mason (ed.), Global Economic Crisis, chapter 8, Edward Elgar Publishing.
    3. Erich Pinzón-Fuchs, 2016. "Macroeconometric modeling as a "photographic description of reality" or as an "engine for the discovery of concrete truth" ? Friedman and Klein on statistical illusions," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01364812, HAL.
    4. Walter Block, 1988. "Economics Of The Canadian Bishops," Contemporary Economic Policy, Western Economic Association International, vol. 6(1), pages 56-68, January.
    5. Walter Block & William Barnett II, 2007. "On Laidler regarding the Austrian business cycle theory," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 20(1), pages 43-61, March.
    6. Jon D. Wisman, 2013. "Labor Busted, Rising Inequality and the Financial Crisis of 1929: An Unlearned Lesson," Working Papers 2013-07, American University, Department of Economics.
    7. Carlson, Benny, 2022. "Cassel, Ohlin, Åkerman and the Wall Street Crash of 1929," OSF Preprints 78ahc, Center for Open Science.
    8. Hassan, Sherif Maher, 2016. "A Historical Retrieval of the Methods and Functions of Monetary Policy," MPRA Paper 75648, University Library of Munich, Germany.
    9. repec:ces:ifodic:v:15:y:2017:i:1:p:19309462 is not listed on IDEAS
    10. Jon D. Wisman, 2013. "Wage stagnation, rising inequality and the financial crisis of 2008," Cambridge Journal of Economics, Oxford University Press, vol. 37(4), pages 921-945.
    11. Robert Skidelsky, 2016. "How Keynes came to Britain," Review of Keynesian Economics, Edward Elgar Publishing, vol. 4(1), pages 4-19, January.
    12. Charles Wyplosz, 2017. "How Far Should Unconventional Central Banking Go?," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 15(01), pages 28-30, April.
    13. Charles Wyplosz, 2017. "How Far Should Unconventional Central Banking Go?," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 15(1), pages 28-30, 04.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ecaffa:v:26:y:2006:i:3:p:70-73. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0265-0665 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.