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More on Hawtrey, Harvard and Chicago

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Abstract

In this paper, I shall discuss in turn: the views of Hawtrey and Friedman on the powers of monetary and fiscal policy, and contrast them with those of Douglas and Director to which Tavlas draws attention; the role of monetary factors in causing and exacerbating the Great Contraction of 1929-1933, and what monetary policy might have accomplished to mitigate it; and the relationship between Douglas' work and that of some of his Chicago colleagues.

Suggested Citation

  • Laidler, D, 1997. "More on Hawtrey, Harvard and Chicago," University of Western Ontario, Departmental Research Report Series 9704, University of Western Ontario, Department of Economics.
  • Handle: RePEc:uwo:uwowop:9704
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    File URL: https://ir.lib.uwo.ca/cgi/viewcontent.cgi?article=1420&context=economicsresrpt
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    Keywords

    MONETARY POLICY; FISCAL POLICY;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents

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