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The Great Depression

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  • Peter Temin

Abstract

This history of the Great Depression was prepared for The Cambridge Economic History of the United States. It describes real and imagined causes of the Depression, bank failures and deflation, the Fed and the gold standard, the start of recovery, the first New Deal, and the second New Deal. I argue that adherence to the gold standard caused the Depression, that abandoning gold started recovery, and that several of the New Deal measures adopted in the recovery lasted in good order for half a century.

Suggested Citation

  • Peter Temin, 1994. "The Great Depression," NBER Historical Working Papers 0062, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberhi:0062
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    File URL: http://www.nber.org/papers/h0062.pdf
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    Cited by:

    1. Nina Dodig & Hansjorg Herr, 2014. "Previous financial crises leading to stagnation – selected case studies," Working papers wpaper24, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    2. repec:rej:journl:v:21:y:2018:i:69:p:93-97 is not listed on IDEAS
    3. Richard H. Timberlake, 2005. "Gold Standards and the Real Bills Doctrine in U.S. Monetary Policy," Econ Journal Watch, Econ Journal Watch, vol. 2(2), pages 196-233, August.

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