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Their Great Depression and Ours

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  • James Livingston
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    Abstract

    It is broad conventional wisdom that a financial collapse in the early 1930s was the principal cause of the Great Depression. And those lessons are being applied in solving today's economic crisis. This historian argues that the causes were more fundamental and can be found in the poor wage performance before the Depression, leading to large profits in search of few investment opportunities.

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    Bibliographic Info

    Article provided by M.E. Sharpe, Inc. in its journal Challenge.

    Volume (Year): 52 (2009)
    Issue (Month): 3 (May)
    Pages: 34-51

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    Handle: RePEc:mes:challe:v:52:y:2009:i:3:p:34-51

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    Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=106043

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    Cited by:
    1. Engelbert Stockhammer, 2011. "Polarisierung der Einkommensverteilung als strukturelle Ursache der gegenwärtigen Finanz- und Wirtschaftskrise," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 37(3), pages 378-402.
    2. Jon D. Wisman & Barton Baker, 2009. "Increasing Inequality, Status Insecurity, Ideology, and the Financial Crisis of 2008," Working Papers, American University, Department of Economics 2009-14 JEL classificatio, American University, Department of Economics.

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