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The Midas Paradox: A New Look at the Great Depression and Economic Instability by Scott B. Sumner (Hardcover, 2015)

About this product

About this product

Product Information

Economic historians have made great progress in unraveling the causes of the Great Depression, but not until Scott Sumner came along has anyone explained the multitude of twists and turns the economy took. In The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression, Sumner offers his magnum opus-the first book to comprehensively explain both monetary and non-monetary causes of that cataclysm. Drawing on financial market data and contemporaneous news stories, Sumner shows that the Great Depression is ultimately a story of incredibly bad policymaking-by central bankers, legislators, and two presidents-especially mistakes related to monetary policy and wage rates. He also shows that macroeconomic thought has long been captive to a false narrative that continues to misguide policymakers in their quixotic quest to promote robust and sustainable economic growth. The Midas Paradox is a landmark treatise that solves mysteries that have long perplexed economic historians, and corrects misconceptions about the true causes, consequences, and cures of macroeconomic instability. Like Milton Friedman and Anna J. Schwartz's A Monetary History of the United States, 1867-1960, it is one of those rare books destined to shape all future research on the subject.

Product Identifiers

Publisher
Independent Institute,U.S.
ISBN-13
9781598131505
eBay Product ID (ePID)
221622451

Product Key Features

Author
Scott B. Sumner
Publication Name
The Midas Paradox: a New Look at the Great Depression and Economic Instability
Format
Hardcover
Language
English
Subject
Economics
Publication Year
2015
Type
Textbook
Number of Pages
560 Pages

Dimensions

Item Height
229mm
Item Width
152mm
Item Weight
989g

Additional Product Features

Title_Author
Scott B. Sumner
Country/Region of Manufacture
United States

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