Tag: Great Depression
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How the Gold Standard Constrained Development
The classical gold standard imposed deflationary discipline that enriched creditors and punished debtors across the globe. This article examines how the gold standard worked, who it served, and why its abandonment — not its adoption — is what ended the Great Depression.
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The Economics of the Great Depression
Examine the Great Depression as an economic policy failure — the Federal Reserve's contractionary stance, the gold standard's transmission of deflation, the Smoot-Hawley tariff, and why recovery came faster to countries that abandoned gold.
