Overview

This is an integrated view of the depression, covering the experience in Britain, France, Germany, and the United States. It describes the causes of the depression, why it was so widespread and prolonged, and what brought about eventual recovery. Temin finds parallels in recent history, in the the relentless deflationary course followed by the US Federal Reserve Board and the British government in the early 1980s, and in the adherence by the Reagan administration to policies generated by a discredited economic theory - supply-side economics.

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9780262700443

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Peter Temin's lucid discussion rescues the history of the great world economic crisis from the fatalistic conservatism that has become so fashionable in recent years. The analysis is instructive both for those with little formal training in economics and for those with a sophisticated grasp of theory. Charles Maier , Harvard University

Peter Temin's lucid discussion rescues the history of the great world economic crisis from the fatalistic conservatism that has become so fashionable in recent years. The analysis is instructive both for those with little formal training in economics and for those with a sophisticated grasp of theory. --Charles Maier, Harvard University

Author Information

Peter Temin is Professor of Economics Emeritus at MIT. He is the coauthor of Keynes: Useful Economics for the World Economy (MIT Press) and of The Leaderless Economy.

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