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The London Monetary and Economic Conference of 1933: A Public Goods Analysis

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  • Rodney J. Morrison

Abstract

. Hegemony theorists attribute the duration and severity of the Great Depression to the fact that, in 1933, the United States refused to take the place of Great Britain as world economic leader. This argument is based on the proposition that a major power must coordinate the international monetary and trading systems if is to obtain in those sectors. This thesis is reappraised by applying the theories of public goods, clubs, and public choice to the London Monetary and Economic Conference of 1933, an occasion when the United States declined the role of world economic hegemon. Dig deep tunnels, store grain everywhere, and never seek begemony.

Suggested Citation

  • Rodney J. Morrison, 1993. "The London Monetary and Economic Conference of 1933: A Public Goods Analysis," American Journal of Economics and Sociology, Wiley Blackwell, vol. 52(3), pages 307-321, July.
    • Handle: RePEc:bla:ajecsc:v:52:y:1993:i:3:p:307-321
    DOI: 10.1111/j.1536-7150.1993.tb02552.x
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    Cited by:

    1. Dieter Heribert & Biedermann Johanna, 2022. "The New Advocacy for Autarky: Self-Sufficiency is Now Once Again Becoming Popular for Geopolitical Reasons," The Economists' Voice, De Gruyter, vol. 19(2), pages 263-283, December.

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