The Midas Paradox: Financial Markets, Government Policy

The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression

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 opusâ€”the first book to comprehensively explain both monetary and non-monetary causes of that cataclysm.Â
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Drawing on financial market data and contemporaneous news stories, Sumner shows that the Great Depression is ultimately a story of incredibly bad policymakingâ€”by central bankers, legislators, and two presidentsâ€”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.
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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. Schwartzâ€™s A Monetary History of the United States, 1867â€“1960, it is one of those rare books destined to shape all future research on the subject.
Country USA
Brand Independent Institute
Manufacturer Independent Institute
Binding Hardcover
UnitCount 1
Format Illustrated
EANs 9781598131505
ReleaseDate 0000-00-00

Country	USA
Brand	Independent Institute
Manufacturer	Independent Institute
Binding	Hardcover
UnitCount	1
Format	Illustrated
EANs	9781598131505
ReleaseDate	0000-00-00

The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression

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