An edition of Midas Paradox (2014)

Midas Paradox

A New Look at the Great Depression and Economic Instability

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Last edited by MARC Bot
June 28, 2025 | History
An edition of Midas Paradox (2014)

Midas Paradox

A New Look at the Great Depression and Economic Instability

  • 3 Want to read

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. --

Publish Date
Language
English
Pages
528

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Previews available in: English

Edition Availability
Cover of: Midas Paradox
Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression
2015, Independent Institute, The
in English
Cover of: Midas Paradox
Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression
2015, Independent Institute, The
in English
Cover of: Midas Paradox
Midas Paradox: A New Look at the Great Depression and Economic Instability
2015, Independent Institute, The, The Independent Institute
in English
Cover of: Midas Paradox
Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression
2015, Independent Institute, The
in English
Cover of: Midas Paradox
Midas Paradox: A New Look at the Great Depression and Economic Instability
2014, Independent Institute, The
in English

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Book Details


Classifications

Library of Congress
HB3717 1929.S86 2014, HB3717 1929 .S86 2015

Edition Identifiers

Open Library
OL28801847M
Internet Archive
midasparadoxfina0000sumn
ISBN 13
9781598131505
LCCN
2013043553
OCLC/WorldCat
865543783

Work Identifiers

Work ID
OL21273192W

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