Their Great Depression and Ours

James Livingston

Challenge, 2009, vol. 52, issue 3, 34-51

Abstract: It is broad conventional wisdom that a financial collapse in the early 1930s was the principal cause of the Great Depression. And those lessons are being applied in solving today's economic crisis. This historian argues that the causes were more fundamental and can be found in the poor wage performance before the Depression, leading to large profits in search of few investment opportunities.

Date: 2009
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DOI: 10.2753/0577-5132520302

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