Lessons from the Great Depression (Lionel Robbins Lectures)
by Peter Temin
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Book Summary Information
Author: Peter TeminEdition: Paperback
Audio: English (Unknown); English (Original Language); English (Published)
Published: 1991-10-08
ISBN: 0262700441
Number of pages: 211
Publisher: The MIT Press
Book Reviews of Lessons from the Great Depression (Lionel Robbins Lectures)
Book Review: A Compelling Study of the Great Depression: The Gold Standard is Largely to Blame
Summary: 5 Stars
Peter Temin rigorously explains the economics of the Great Depression and the lessons to be learned from the economics of the Great Depression. He explains convincingly that the gold standard was mainly to blame for the Great Depression. It was a Federal Reserve contraction of the money supply that began a recession, and then it was the gold standard that turned it into a catastrophic depression. To be specific, the gold standard imposed a severe tightening of the gold standard, and stubborn efforts by political leaders in several countries to maintain the gold standard strangled the economy further.
The countries that left the gold standard quickly, such as Great Britain, recovered the soonest from the Great Depression. The countries that stayed on the gold standard recovered last. The countries that were not on the gold standard avoided the Great Depression!
This book is for economists or general readers with a strong interest in the period. Peter Temin established himself as one of the greatest economists of the Great Depression.
Also consider "Essays on the Great Depression" by Ben Bernanke, Chairman of the Federal Reserve.
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