Anticipating the Great Depression? Gustav Cassel&Apos;S Analysis of the Interwar Gold Standard

@article{Irwin2011AnticipatingTG,
  title={Anticipating the Great Depression? Gustav Cassel\&Apos;S Analysis of the Interwar Gold Standard},
  author={Douglas A. Irwin},
  journal={Macroeconomics: Aggregative Models eJournal},
  year={2011}
}
  • D. Irwin
  • Published 1 November 2011
  • Economics, History
  • Macroeconomics: Aggregative Models eJournal
The intellectual response to the Great Depression is often portrayed as a battle between the ideas of Friedrich Hayek and John Maynard Keynes. Yet both the Austrian and the Keynesian interpretations of the Depression were incomplete. Austrians could explain how a country might get into a depression (bust following an investment boom) but not how to get out of one (liquidation). Keynesians could explain how a country might get out of a depression (government spending on public works) but not how… 

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