1930s and 1940s: the Great Depression and its aftermath

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Chapter 2 in Financial Crises, 1929 to the Present, Second Edition, 2017, pp 17-38 from Edward Elgar Publishing

Abstract: Chapter 2 addresses the Great Depression. The Great Depression was an unprecedented event that began in the US and spread to both developed and developing countries globally. Although serious crises had occurred previously, the Great Depression changed the way in which policy makers around the world responded to a flagging economy and notably ended permanently the gold standard, which had been used in varying capacities for decades. Countercyclical fiscal policy was first used on a grand scale in the US, after insufferable months of cyclical budget tightening in which economic grievances caused great social unrest. Keywords: Great Depression, Franklin Delano Roosevelt, Herbert Hoover

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2017
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