Why So Slow? The Role of Ongoing Conversion/Acceleration in Delaying the Recovery

Bernard C. Beaudreau

Chapter 9 in The Great Depression:Its Origins in Acceleration and Electric Unit Drive, 2023, pp 223-246 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The following sections are included:IntroductionThe Ongoing Conversion to Electric Unit Drive during the DownturnThe New Deal and the Growth of the U.S. Power SupplyHow New Deal Policies Exacerbated the Problem of Excess CapacityOngoing Conversion and Employment: Simulation AnalysisMacroeconomic EvidenceEvidence from Industry and Country DataEvidence: Cross-Country DataAcceleration: The Source of Alexander Field’s Most Productive Decade Ever?The New Deal: Failure on All FrontsSummary and Conclusions

Keywords: Great Depression; Electric Unit Drive; Acceleration; Failed Transition; Stock Market Boom and Crash; Smoot-Hawley Tariff Act; National Industrial Recovery Act (search for similar items in EconPapers)
JEL-codes: B22 E02 N N12 N22 (search for similar items in EconPapers)
Date: 2023
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