eBook - ePub
The Midas Paradox
Financial Markets, Government Policy Shocks, and the Great Depression
- English
- ePUB (mobile friendly)
- Available on iOS & Android
eBook - ePub
About this book
Economic historians have made great progress in unraveling the causes of the Great Depression, but not until Scott Sumner came along has anyone explained the multitude of twists and turns the economy took.
In The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression, Sumner offers his magnum opus—the ?rst book to comprehensively explain both monetary and non-monetary causes of that cataclysm.
Drawing on ?nancial market data and contemporaneous news stories, Sumner shows that the Great Depression is ultimately a story of incredibly bad policymaking—by central bankers, legislators, and two presidents—especially mistakes related to monetary policy and wage rates. He also shows that macroeconomic thought has long been captive to a false narrative, which continues to misguide policymakers in their quixotic quest to promote robust and sustainable economic growth.
The Midas Paradox is a landmark treatise that solves mysteries that have long perplexed economic historians and corrects misconceptions about the true causes, consequences, and cures of macroeconomic instability. Like Milton Friedman and Anna J. Schwartz’s A Monetary History of the United States, 1867–1960, it is one of those rare books destined to shape future research and debate on the subject.
In The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression, Sumner offers his magnum opus—the ?rst book to comprehensively explain both monetary and non-monetary causes of that cataclysm.
Drawing on ?nancial market data and contemporaneous news stories, Sumner shows that the Great Depression is ultimately a story of incredibly bad policymaking—by central bankers, legislators, and two presidents—especially mistakes related to monetary policy and wage rates. He also shows that macroeconomic thought has long been captive to a false narrative, which continues to misguide policymakers in their quixotic quest to promote robust and sustainable economic growth.
The Midas Paradox is a landmark treatise that solves mysteries that have long perplexed economic historians and corrects misconceptions about the true causes, consequences, and cures of macroeconomic instability. Like Milton Friedman and Anna J. Schwartz’s A Monetary History of the United States, 1867–1960, it is one of those rare books destined to shape future research and debate on the subject.
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Yes, you can access The Midas Paradox by Scott Sumner in PDF and/or ePUB format, as well as other popular books in Economics & Government & Business. We have over one million books available in our catalogue for you to explore.
Information
Table of contents
- Cover
- Title Page
- Copyright
- Dedication
- Contents
- Preface
- Part I Gold, Wages, and the Great Depression
- Part II The Great Contraction
- Part III Bold and Persistent Experimentation: Macroeconomic Policy during 1933
- Part IV Back on the Gold Standard
- Part V Conclusion
- References
- Index
- About the Author
- Independent Studies in Political Economy
- Praise for The Midas Paradox
- Independent Institute
- Backcover