For a long time, nobody wanted to discuss the Depression of 1920-21, since it reversed itself without fiscal or monetary stimulus. But after a few other scholars and I started making hay with this example, Keynesian critics crawled out of the woodwork. My guest today responds, and vindicates our view.
About the Guest
Patrick Newman is a professor of economics at Florida Gulf Coast University.
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Paper Discussed
“The Depression of 1920-1921: A Credit Induced Boom and a Market Based Recovery?,” by Patrick Newman
Previous Appearance
Ep. 418 The Truth About One of Those Pre-Fed Depressions
Related Episode
Ep. 282 Jim Grant on the Forgotten Depression (Jim Grant)
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