IDEAS home Printed from https://ideas.repec.org/h/eme/rehizz/s0363-3268(08)26006-4.html
   My bibliography  Save this book chapter

Governor Eugene Meyer and the great contraction

In: Research in Economic History

Author

Listed:
  • James L. Butkiewicz

Abstract

Eugene Meyer governed the Federal Reserve Board during most of the Great Contraction. Yet his role and import are almost unknown. He was not misguided by incorrect policy indicators or the real bills doctrine; the usual explanations for the failure of monetary policy. Meyer urged the adoption of expansionary policies and created the Reconstruction Finance Corporation to assist banks, especially nonmembers. However, the diffusion of power enabled the district bank Governors to stifle his efforts, although an expansionary policy was finally adopted in 1932. His unquestioning commitment to gold and lack of operational authority are the reasons policy failed.

Suggested Citation

  • James L. Butkiewicz, 2008. "Governor Eugene Meyer and the great contraction," Research in Economic History, in: Research in Economic History, pages 273-307, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:rehizz:s0363-3268(08)26006-4
    DOI: 10.1016/S0363-3268(08)26006-4
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1016/S0363-3268(08)26006-4/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1016/S0363-3268(08)26006-4/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1016/S0363-3268(08)26006-4/full/epub?utm_source=repec&utm_medium=feed&utm_campaign=repec&title=10.1016/S0363-3268(08)26006-4
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1016/S0363-3268(08)26006-4?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
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    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:eme:rehizz:s0363-3268(08)26006-4. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Emerald Support (email available below). General contact details of provider: .

    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.