Did Monetary Forces Cause the Great Depression?
Author: Peter Temin
List Price: $19.20
Our Price: Click to see the latest and low price
ISBN: 0393092097
Publisher: W.W. Norton & Company (June, 1976)
Sales Rank: 242,576
Average Customer Rating: 4 out of 5
Customer Reviews
Rating: 4 out of 5
Did Monetary Forces Cause the Great Depression ?
This book was intended to argue against Friedman's monetary description of the Great Depression. However, it is hard to say that Temin responded to Friedman's main contention properly. For, while Friedman maintained that the Depression could have been alleviated had there been some appropriate actions of the Fed (namely, policies related to monetary expansion), Temin's response was composed of two parts which kill each other's clarity; namely, (A) there was no monetary constraint before September 1931: however, (B) we cannot say whether or not macroeconomic policies which were not used then could have been effective if they were actually used. At the same time, Temin's logic which made him say (A) above is based upon a coarse (and probably wrong) interpretation of Friedman's another article, ''Money and Business Cycles''. Nonetheless, I have to be fair to add that this book is one of good materials to examine Friedman's position from various points of views. Similar Products
Golden Fetters: The Gold Standard and the Great Depression, 1919-1939
The Great Crash 1929
Monetary History of the United States, 1867-1960
Book Index