Europe's Great Depression: Coordination Failure after the First World War

  title={Europe's Great Depression: Coordination Failure after the First World War},
  author={Nikolaus Wolf},
  journal={European Economics: Macroeconomics \& Monetary Economics eJournal},
  • Nikolaus Wolf
  • Published 1 August 2010
  • Economics
  • European Economics: Macroeconomics & Monetary Economics eJournal
In this paper I survey and reinterpret the extensive literature on Europe's Great Depression. I argue that Europe could not exploit her vast economic potential after 1918, because the war had not yet come to an end - indeed it did not end before 1945. Both, domestic and international institutions suffered from a lack of reciprocal trust and commitment, which can be clearly illustrated in the realm of monetary policy but affected many other areas of policymaking, such as energy or migration… 
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