The Dynamic Process of the Great Depression

Makoto Itoh
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Makoto Itoh: University of Tokyo

Chapter 3 in The World Economic Crisis and Japanese Capitalism, 1990, pp 60-97 from Palgrave Macmillan

Abstract: Abstract After the long postwar boom, the capitalist world economy has clearly entered a quite different economic process, which can easily be designated as a great depression. In comparison with the previous great depressions of the late nineteenth century and the 1930s, the current great depression from 1973 has some specific characteristics. Above all a wide fluctuation of prices with a heavily inflationary keynote at the beginning, followed by a disinflationary tendency especially for primary products in the 1980s, is unique to this great depression. The whole process of the current world great depression must be analysed first of all in relation to this specific feature.

Keywords: Great Depression; Real Rate; Government Debt; Military Expenditure; Capitalist Country (search for similar items in EconPapers)
Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-21084-8_3

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DOI: 10.1007/978-1-349-21084-8_3

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