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THE 1930s AND THE PRESENT DAY – CRISES COMPARED

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  • Panagiotis Evangelopoulos

Abstract

Many analysts are comparing the deep crisis of our times with the crash of 1929 and the Great Depression that followed in the 1930s. They generally argue that Barack Obama is driving the world to recovery along Roosevelt's ‘state superiority’ line. Alas, today's crisis rings alarm bells for the manner in which we must manage the future of democracy, the state and markets. Markets cannot be ‘ordered about’ and when in the face of sound logic and practice an attempt is made to do just this, markets become refractory, or – even worse – they may collapse.

Suggested Citation

  • Panagiotis Evangelopoulos, 2009. "THE 1930s AND THE PRESENT DAY – CRISES COMPARED," Economic Affairs, Wiley Blackwell, vol. 29(4), pages 80-82, December.
    • Handle: RePEc:bla:ecaffa:v:29:y:2009:i:4:p:80-82
    DOI: 10.1111/j.1468-0270.2009.01952.x
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    References listed on IDEAS

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    1. Milton Friedman & Anna J. Schwartz, 1963. "A Monetary History of the United States, 1867–1960," NBER Books, National Bureau of Economic Research, Inc, number frie63-1, March.
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    Cited by:

    1. Panagiotis Evangelopoulos, 2014. "Consequences of the Public Debt Crisis on Growth and Stability," Review of Economics & Finance, Better Advances Press, Canada, vol. 4, pages 47-56, August.

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