Business Week, the Great Depression, and the Coming of Keynesianism to America☆

Ranjit S. Dighe

A chapter in Research in Economic History, 2019, vol. 35, pp 25-57 from Emerald Group Publishing Limited

Abstract: The editorials of the then-newBusiness Weekduring the 1929–1933 contraction offered sophisticated Keynesian policy prescriptions: against a laissez-faire response, against deflation, against balanced-budget fetishism, for monetary expansion. These editorials, which seem to have been largely forgotten, likely played a considerable role in the dissemination of Keynesian economics in the United States in the 1930s. This chapter reviews the editorials and their congruence with Keynes’s writings. The magazine’s archives, including surveys of their readers, suggest that the editorials were among the most read and most valued parts of the magazine. The magazine cultivated an elite executive readership at that time, so the editorials may well have been important in gaining business support for Keynesian policies in the early New Deal.

Keywords: Business Week; deflation; gold standard; John Maynard Keynes; macroeconomic policy history; monetary regime history; B310; N12; N22; N42 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:eme:rehizz:s0363-326820190000035003

DOI: 10.1108/S0363-326820190000035003

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