Category Archives: Great Depression
Lawrence White provides an outline and preview of his remarkable new book The Clash of Economic Ideas: Lawrence White and Doug Irwin discuss alternative explanations of the depth and causes of the Great Depression: Lawrence White on money and free … Continue reading
From a 1977 interview: ” I think it is certainly true that ending an inflation need not lead to that long-lasting period of unemployment like the 1930s, because then the monetary policy was not only wrong during the boom but … Continue reading
If Hayek had know the facts, perhaps he would have located the principle source of the Depression in France, and not so much in America. Based on later, better data, Hayek concluded that the length and depth of the Depression … Continue reading
Now in English: Conversations with Great Economists: Friedrich A. Hayek, John Hicks, Nicholas Kaldor, Leonid V. Kantorovich, Joan Robinson, Paul A.Samuelson, Jan Tinbergen by Diego Pizano. Originally published in Spanish as Dialogos Con Economistas Eminenes, (Mexico) Fondo de Cultura Economica, … Continue reading
UCLA economist Lee Ohania points out that in late 1929 and early 1930 a Depression-level industrial employment crash occurred before any serious deflation or banking panic hit the U.S. economy: Economists cite monetary contraction (Friedman and Schwartz, 1963) and banking … Continue reading
Economist Lawrence White weighs in on Brad DeLong’s sociopathological misrepresentation of Herbert Hoover’s Depression Economics.