The Great Depression: Misunderstanding Deflation

The New American Economy (New York: Palgrave Macmillan, 2009)

23 Pages Posted: 19 Sep 2016

Date Written: September 13, 2016

Abstract

The core problem of both the Great Depression and the 2008/2009 economic crisis was deflation. A review of the Great Depression examines the long, slow intellectual and political process that finally led to a correct understanding of how deflation arose and the difficulty of addressing it with the proper policies. Greater knowledge of this intellectual and economic history would have saved the country from much unnecessary pain following the more recent economic crisis.

Keywords: Great Depression, Franklin Roosevelt, Irving Fisher, John Maynard Keynes, Lauchlin Currie, Benjamin Strong

JEL Classification: B22, E32, E52, E58, E59, E62, E65, N20

Suggested Citation

Bartlett, Bruce, The Great Depression: Misunderstanding Deflation (September 13, 2016). The New American Economy (New York: Palgrave Macmillan, 2009) , Available at SSRN: https://ssrn.com/abstract=2838517 or http://dx.doi.org/10.2139/ssrn.2838517

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