Letter: Republican Opposition to Debt Reduction in Financial Crises--The Great Depression and Today

Rosenthal Howard L
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Rosenthal Howard L: New Yok University

The Economists' Voice, 2008, vol. 5, issue 5, 3

Abstract: Luigi Zingales points out that an important policy in resolving the crisis of the 1930s was the cancellation of gold clauses in industrial bond contracts. Congressional Republicans, however, strongly opposed this policy, and interestingly, today Republicans are again the core opposition to government intervention in credit markets, according to Howard Rosenthal of NYU.

Date: 2008
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DOI: 10.2202/1553-3832.1419

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