The gold standard is often blamed for causing "the Great Contraction" - the unprecedented collapse of the U.S. money stock that began after the 1929 stock market crash and led to the Great Depression.
In Gold, the Real Bills Doctrine, and the Fed: Sources of Monetary Disorder, 1922-1938, preeminent monetary historians Thomas M. Humphrey and Richard H. Timberlake thoroughly refute that claim. Instead, they identify the culprit as a now relatively unknown, but once highly influential, theory: the Real Bills Doctrine. The Fed's failure to stem the Great Contraction was due, not to any shortage of gold, but to Fed official's devotion to a doctrine that made them unwilling to make full use of the United States' ample gold reserves.
Anyone interested in understanding the causes of Great Depression, and particularly the part prevailing economic theories played in it, should regard Gold, the Real Bills Doctrine, and the Fed: Sources of Monetary Disorder, 1922-1938 as an absolutely essential work.
- ISBN:
- 9781948647557
- 9781948647557
-
Category:
- Monetary economics
- Format:
- Hardback
- Publication Date:
-
03-09-2019
- Publisher:
- Cato Institute
- Pages:
- 226
- Dimensions (mm):
- 229x152x16mm
- Weight:
- 0.5kg
This title is in stock with our Australian supplier and should arrive at our Sydney warehouse within 2 - 3 weeks of you placing an order.
Once received into our warehouse we will despatch it to you with a Shipping Notification which includes online tracking.
Please check the estimated delivery times below for your region, for after your order is despatched from our warehouse:
ACT Metro 2 working days
NSW Metro 2 working days
NSW Rural 2 - 3 working days
NSW Remote 2 - 5 working days
NT Metro 3 - 6 working days
NT Remote 4 - 10 working days
QLD Metro 2 - 4 working days
QLD Rural 2 - 5 working days
QLD Remote 2 - 7 working days
SA Metro 2 - 5 working days
SA Rural 3 - 6 working days
SA Remote 3 - 7 working days
TAS Metro 3 - 6 working days
TAS Rural 3 - 6 working days
VIC Metro 2 - 3 working days
VIC Rural 2 - 4 working days
VIC Remote 2 - 5 working days
WA Metro 3 - 6 working days
WA Rural 4 - 8 working days
WA Remote 4 - 12 working days
Share This Book: