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portada The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression
Type
Physical Book
Author
Publisher
Language
English
Pages
528
Format
Hardcover
Dimensions
23.1 x 15.7 x 4.3 cm
Weight
0.93 kg.
ISBN13
9781598131505
Categories

The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression

Scott B. Sumner (Author) · Independent Institute · Hardcover

The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression - Sumner, Scott B.

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Synopsis "The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression"

Economic historians have made great progress in unraveling the causes of the Great Depression, but not until Scott Sumner came along has anyone explained the multitude of twists and turns the economy took. In The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression, Sumner offers his magnum opus--the first book to comprehensively explain both monetary and non-monetary causes of that cataclysm. Drawing on financial market data and contemporaneous news stories, Sumner shows that the Great Depression is ultimately a story of incredibly bad policymaking--by central bankers, legislators, and two presidents--especially mistakes related to monetary policy and wage rates. He also shows that macroeconomic thought has long been captive to a false narrative that continues to misguide policymakers in their quixotic quest to promote robust and sustainable economic growth. The Midas Paradox is a landmark treatise that solves mysteries that have long perplexed economic historians, and corrects misconceptions about the true causes, consequences, and cures of macroeconomic instability. Like Milton Friedman and Anna J. Schwartz's A Monetary History of the United States, 1867-1960, it is one of those rare books destined to shape all future research on the subject.

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The binding of this edition is Hardcover.

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