Listen free for 30 days
-
A Rabble of Dead Money
- The Great Crash and the Global Depression: 1929-1939
- Narrated by: Tom Perkins
- Length: 11 hrs and 53 mins
Failed to add items
Add to Cart failed.
Add to Wish List failed.
Remove from wish list failed.
Follow podcast failed
Unfollow podcast failed
A Rabble of Dead Money
Buy Now for $33.40
No default payment method selected.
We are sorry. We are not allowed to sell this product with the selected payment method
Publisher's Summary
There is no single theory of what caused the Great Depression and never will be, Morris argues. Macreconomics is a social science, and such a massive event always takes its shape from a terrible confluence of factors. The mismanagement of the gold standard, the growth in consumer credit, the insistence on deflation by some of the best minds in finance, the spread of "Fordism" through the manufacturing sector, the global agricultural catastrophe, and the inability of the major European belligerents of World War I to agree on a reconstruction agenda are just a few of the shocks that in aggregate pushed the world into an economic Armageddon. Morris does not fail to provide lessons that modern listeners can learn from the Great Crash. It's tempting to pontificate about events of 80 years ago, but as Morris reminds us, our modern macroeconomics is still coming to terms with its failure to forecast how directly the much-trumpeted Great Moderation would lead to the Great Financial Crash of 2008.