Dr. R.B. Higgs, Ph.D.
A comprehensive economic and historical explanation of the events pertaining to the Depression, this book begins by describing the economic setting in the major industrialized countries during the 1920s and the gold standard that linked theory economies together. It then discusses the triggering event that started the economic decline--the Federal Reserve's credit tightening in reaction to perceived overspeculation in the U.S. stock market. The policy bungling that transformed the recession into the Great Depression is detailed: Smoot Hawley, the Federal Reserve's disastrous adherence to the real bills doctrine, and Hoover's 1932 tax hike. This is followed by a detailed description of the New Deal's shortcomings in trying to end the Depression, along with a discussion of the National Socialist economic programs in Germany. Finally, the factors that ended the Depression are examined.
This book will appeal to economists, historians, and those interested in business conditions who would like to know more about the causes and consequences of the Great Depression. It will be particularly useful as a supplementary text in economic history courses.
Thomas E. Hall and J. David Ferguson are both Professors of Economics, Miami University.
Using data current through the first half of 2003, Frumkin focuses on the meaning and use of a wide array of indicators of economic growth, employment, wages, productivity, investment, saving, and finance in assesing the current state of the U.S. economy and forecasting future developments. Equally useful for economists, students, investors, journalists, and anyone concerned with the economy, this totally revised edition includes detailed coverage of many important new topics, such as terrorism's impact on the economy, federal debt and interest rates, job openings and unemployment, government spending and taxes, the 2001 recession, and much more.
Equally usefull for economists, students, investors, and anyone concerned with the economy, this totally revised edition includes detailed coverage of many important new topics, including:
--reclaiming American manufacturing;
--differential patterns of the expansions of the 1980s and the 1990s-2000;
--wealth effect of stock market and housing prices;
--significance of consumer confidentce surveys;
--age of nonresidential structures and equipment and future investment;
--government spending and tax components;
--frequency of tax changes;
--taxation and work effort;
--sustainability of balance of payments deficits and foreign indebtedness;
--jobless recoveries in 1991-92 and 2002-03;
--interstate variations in income and unionization;
--interstate variations in unemployment insurance;
--job openings and unemployment;
--terrorism impacts on economic growth and productivity;
--spread of oil price changes to the non-energy sectors
Anglund points out that the American national government is in the business of promoting small business. Government agencies help entrepreneurs develop small businesses through a wide range of programs providing financial assistance such as loans, government contract assistance including set-asides, and management and technical support. Unlike government programs for farmers and big businesses, which are usually invisible to the citizenry, small business aid programs are extremely and intentionally visible.
Congress declared the policy of aiding small business and launched the contemporary era of small business assistance programs in the Small Business Act of 1953. In this study, Anglund traces the heritage of the Small Business Act, probes influences on small business and enactments of the 1953-1997 period, and show how American core values, those often referred to as the American Creed, contributed to shaping small business policy and to the support it received. Scholars, students, and researchers involved with public policy, political culture, business politics and history, and economic development will find this study of particular interest.
Dr. R.B. Higgs, Ph.D.