Mass Production, the Stock Market Crash, and the Great Depression

Mass Production, the Stock Market Crash, and the Great Depression

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Economists and historians view the events of the 1920s, the stock market boom and crash, the Great Depression and the New Deal, as being largely independent. This work presents an integrated, empirically-consistent view of this important period arguing that all of these events can be traced back to a paradigm technology shock, namely the electrification of U.S. industry from 1910 to 1926. The author goes from electrification through the stock market boom to the tariffs of the late 20s to the stock market crash and depression followed by the National Industrial Recovery Act in 1933.CRASH. AND. THE. POUND. The stock market boom on Wall Street, while severely weakening the pound, did not, however, force Great Britain off of the ... From October 1929 to January 1930 the United States lost $75 million in gold and $18 million in central banking foreign exchange holdings. ... In little time, trade flows diminished as countries substituted foreign goods for domestically- produced ones.


Title:Mass Production, the Stock Market Crash, and the Great Depression
Author: Bernard C. Beaudreau
Publisher:iUniverse - 2004-06
ISBN-13:

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