Rethinking the Great Depression (American Ways Series)

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Synthesizing new economic research of recent decades, the author offers new insights and some surprising conclusions about the Great Depression. Smiley, an academic, revisits the Great Depression, the period from until that had such a slow recovery that the whole decade of the s is often considered the Depression. Armed with increasingly sophisticated analytical techniques, the author sets out to survey the s so that readers without training in economics have a better understanding of the forces at work during this period.

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In his view, the Great Depression prompted growing intellectual fascination with socialist economic ideas and precipitated World War II, which in turn led to the spread of communism worldwide. This era gave rise to Keynesian macroeconomics, which explained the Depression and advised how to get out of it and is now mainstream economic analysis. Smiley contends that "in many ways the Great Depression was the defining moment for 20th Century America. The Great Depression was arguably one of the critical economic and political events of the 20th century. However, explaining the causes and significances of this economic collapse to nonspecialists has challenged scholars, as they have often used jargon and complex analysis that befuddled readers.

Economist Smiley Marquette Univ. In five concise chapters, Smiley surveys s prosperity, the causes of the Great Depression, and New Deal responses and their consequences in language that should be clear and understandable to students. Drawing on recent scholarship, he argues that the reorientation of global trade after WW I and the infatuation with the gold standard helped to produce the Great Depression. Despite the good intentions of the New Deal, many of its programs suppressed the economy.

Rethinking the Great Depression

Smiley also contends that prosperity did not return with WW II; rather, wartime government controls, rationing, and taxes postponed economic recovery until Sections describing the gold standard, world trade in the s, and the National Recovery Administration are well done. The concluding chapter on the legacy of the Great Depression could provide interesting discussion points for students.

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Rethinking the Great Depression by Gene Smiley

Rethinking the great depression Author: English View all editions and formats Summary:. Allow this favorite library to be seen by others Keep this favorite library private. Find a copy in the library Finding libraries that hold this item Gene Smiley Find more information about: Publisher Synopsis A remarkable achievement. User-contributed reviews Add a review and share your thoughts with other readers.

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