Acta Oeconomica Pragensia 2007, 15(7):432-447 | DOI: 10.18267/j.aop.230

The American Economy at the Threshold of the Great Depression; The 1920s Economic Policy

Ladislav Tajovský, Tereza Koą»áková
PhDr. Ing. Ladislav Tajovský, Ph.D. - odborný asistent; Katedra hospodářských dějin Národohospodářské fakulty Vysoké ąkoly ekonomické v Praze.
Ing. Tereza Koą»áková - doktorské studium; Katedra hospodářských dějin Katedra hospodářských dějin Národohospodářské fakulty Vysoké ąkoly ekonomické v Praze.

For a long time during the twentieth century the mainstream economists and economic historians dealt with prevailing theory of basic difference between Herbert Hoover and Franklin Delano Roosevelt policies concerning to the Great depression. Nowadays, this contrast does not seem to be so evident. This paper is concerned with some important points of concurrence of these two economic and political systems. The focal point in the analysis of the 1920's American economic policy is the international situation and its substantial change after the World War I. The governments' inability or reluctancy to reflect these changes led to a number of incomprehensible government measures in the face of that great crisis. Another focal point is the apprehension of pre-crisis intellectual and ideal background, which obviously shows the continuancy the pre- and post-crisi politics.

Keywords: Economic policy, American economy, USA, Interwar period, New Era, Herbert Hoover, Cooperative individualism, Great Depression
JEL classification: N42

Published: December 1, 2007  Show citation

ACS AIP APA ASA Harvard Chicago Chicago Notes IEEE ISO690 MLA NLM Turabian Vancouver
Tajovský, L., & Koą»áková, T. (2007). The American Economy at the Threshold of the Great Depression; The 1920s Economic Policy. Acta Oeconomica Pragensia, 15(7), 432-447. doi: 10.18267/j.aop.230
Download citation
  • BibTeX (.bib)
  • Bookends (.ris)
  • EasyBib (.ris)
  • EndNote (.enw)
  • EndNote 8 (.xml)
  • ISI WoS (.isi)
  • Medlars (.medlars)
  • Mendeley (.ris)
  • MODS (.xml)
  • Papers (.ris)
  • RefWorks (.txt)
  • RefManager (.ris)
  • RIS (.ris)
  • MS Word (.xml)
  • Zotero (.ris)
    • Open full article

    References

    1. ARNDT, H. W. (1972). The Economic Lessons of the Nineteen-Thirties. London : Frank Cass, 1972.
    2. CARR, E. H. (1941). The Twenty Years Crisis 1919-1939. London: Macmillan, 1941.
    3. CARR, E. H. (1944). Conditions ofPeace. London : Macmillan, 1944.
    4. CHANDLER, L. V. (1958). Benjamin Strong, Central Banker. Washington, D.C. : Brookings Institution, 1958.
    5. DILLARD, D. (1967). Economic Development of the North Atlantic Comunity: Histo-rical Introduction to Modern Economics. New Jersey : Prentice-Hall, 1967.
    6. FEIS,H. (1966). The Diplomacy of the Dollar, 1919-1939. New York: W. W. Norton, 1966.
    7. FITE, G. C.; REESE, J. E. (1965). An Economic History of the United States. Boston : Houghton Mifflin, 1965.
    8. HAWTREY, R. G. (1932). The Art of Central Banking. London : Longmans, Green and Co., 1932.
    9. HIBBS, Jr., D. A. (1987). The American Political Economy: Macroeconomics and Electoralpolitics. Cambridge : Harvard Univerzity Press, 1987. Go to original source...
    10. HOOVER, H. (1922). American Individualism. New York : Doubleday, Page & Co., 1922.
    11. HOOVER, H. (1934). The Challenge to Liberty. In Rozwenc, E. C., (ed.), The New Deal: Revolution or Evolution? Lexington, D. C. Heath and Company, 1959.
    12. KINDLEBERGER, C. P. (1975). World In Depression 1929-1939. Berkeley : Univerzity of California Press, 1975.
    13. LIPPMAN, W. (1927). Men ofDestiny. New York : Macmillan, 1927.
    14. LYONS, E. (1964). Herbert Hoover: A Biography. New York : Doubleday, 1964.
    15. MASON, A. G. (1965). William Howard Taft: Chief Justice. New York : Simon and Schuster, 1965.
    16. MATOU©EK, J. (1948). Spojené státy americké. Praha : Borový, 1948.
    17. MCCOY, D. (1967). Calvin Coolidge: the Quiet Prezident. New York : Macmillan, 1967.
    18. NIEMI, A. W. (1975). U. S. Economic History. Chicago : Rand McNally College Pub. Co., 1975
    19. RAPPOPORT, R.; White, E. N. (1993). Was There a Bubble in the 1929 Stock Market? The Journal of Economic History, 1993, roč. 53, č. 3, s. 549-574. Go to original source...
    20. RATNER, S. (1967). Taxation andDemocracy in America. New York : John Wiley & Sons, 1967.
    21. ROBERTSON, R. M. (1964). History of the American Economy. New York : Har-court, Brace & World, 1964.
    22. ROTHBARD, M., N. (1972). America's GreatDepression. Los Angeles : Nash Publishing Co., 1972.
    23. SHANNON, D. A. (1977). Twentieth Century America, Volume II: The Twenties and Thirties. Chicago : RandMcNally & Company, 1977.
    24. SLOSSON, P. W. (1971). The Great Crusade andAfter 1914-1928. Chicago : Quad-rangle Books, 1971.
    25. SOBĚHART, R.; STELLNER, F. (2005). Vybrané aspekty vývoje německého hospodářství za Velké hospodářské krize. In Acta Oeconomica Pragensia, 2005, roč. 13, č. 3 Go to original source...
    26. STELLNER, F.; SOBĚHART, R. (2004). Velká hospodářská krize a výmarská republika. In Velká deprese. Sborník textů, ed. M. Louľek a L. Tajovský, Praha, 2004, s. 61-69.
    27. TAUSSIG, F. W. (1964). The Tariff History of the United States. New York : Capri-corn Books, 1964.
    28. WHITE, E.N. (1985). The Merger Movement in Banking, 1919-1933. TheJournalof Economic History, 1985, roč. 45, č. 2, s. 285-291. Go to original source...
    29. WILLIAMS, W. A. (1978). Americans in a Changing World: A History of the United States in the Twentieth Century. New York : Harper and Row, 1978.

    This is an open access article distributed under the terms of the Creative Commons Attribution 4.0 International License (CC BY 4.0), which permits use, distribution, and reproduction in any medium, provided the original publication is properly cited. No use, distribution or reproduction is permitted which does not comply with these terms.


    Return to the content