Abstract
The chapter gives a concise survey of the Wall Street crash, the great depression, and the difficult recovery in the period of the New Deal. It also provides some of the most relevant interpretations of the causes of the great depression, adding other ingredients: the stock-flow relations, the backward functioning of the Fordist model of development, and the fall in knowledge and technological formation.
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Notes
- 1.
Further details on the mechanisms transforming financial crises into real crises are given in Chap. 9, when we will analyse the great recession.
- 2.
See Friedman and Schwartz (1963).
- 3.
See Goldin and Margo (1992).
- 4.
See Keynes (1983).
- 5.
See Keynes (1983), pp. 53–56.
- 6.
- 7.
See Schumpeter (1939).
- 8.
See Steindl (1952).
- 9.
References
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Galbraith, J.F. 1954. The Great Crash 1929. Boston: Houghton Mifflin.
Goldin, C., and R. Margo. 1992. The Great Compression: The Wage Structure in the United States at Mid-Century. Quarterly Journal of Economics 107 (1): 1–34.
Keynes, J.M. 1983. Come uscire dalla crisi. Edited by P. Sabbatini. Roma and Bari: Laterza.
Kindleberger, C.P. 1973. The World in Depression: 1929–1939. Berkeley: University of California Press.
Schumpeter, J.A. 1939. Business Cycles: A Theoretical, Historical and Statistical Analysis of the Capitalist Process. New York and London: McGraw-Hill.
Steindl, J. 1952. Maturity and Stagnation in American Capitalism. Oxford: Basil Blackwell.
Vaudagna, M. 1981a. Corporativismo e New Deal, Integrazione e conflitto sociale negli Stati Uniti (1933–1941). Torino: Rosenberg.
———., ed. 1981b. IL New Deal. Bologna: Il Mulino.
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Valli, V. (2018). The Great Depression and the New Deal. In: The American Economy from Roosevelt to Trump. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-96953-4_3
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DOI: https://doi.org/10.1007/978-3-319-96953-4_3
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