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The Great Slump of 1930 [Kindle Edition]

John Maynard Keynes

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Book Description

What would the great economist of the last century, who had lived through two world wars and a great depression say to us today in the 21st century about our current economic situation? One will never know, but we do have the thoughts and writings of John Maynard Keynes. In "The Great Slump of 1930" he wrote about the period of deflation which was the great depression at a time when it had really just started and there were more questions than answers about what was happening.

At the time of his writing, Keynes could not have known how events would have turned out and finally overcome. However, he very accurately made an assessment on the seriousness and length of the economic and political problems, being very prescient, even in 1930. He understood that "the fundamental cause of the trouble is the lack of new enterprise due to an unsatisfactory market for capital investment." Keynes goes further and makes an astute observation which could just as easily apply to today's situation as it did in 1930: "Meanwhile, the reluctant attitude of lenders has become matched by a hardly less reluctant attitude on the part of borrowers. For the fall of prices has been disastrous to those who have borrowed, and anyone who has postponed new enterprise has gained by his delay. Moreover, the risks that frighten lenders frighten borrowers too." Much attention in today's situation has been given to the lending side of the equation, but not so much to the borrowing side and the willingness on the part of the borrower to assume risk in today's environment. Keynes rightly brings insight to the situation of his day. His work could bring insight to the policy makers of today as well.

Product details

  • Format: Kindle Edition
  • File Size: 14 KB
  • Print Length: 14 pages
  • Simultaneous Device Usage: Unlimited
  • Publisher: Signalman Publishing (28 Jan. 2009)
  • Sold by: Amazon Media EU S.à r.l.
  • Language: English
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Enabled
  • Amazon Bestsellers Rank: #287,959 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Most Helpful Customer Reviews on (beta) 4.5 out of 5 stars  2 reviews
5.0 out of 5 stars It took more than usual remedies to get out of the Depression...and lots of time. 8 Aug. 2014
By Frank Andrews - Published on
Format:Kindle Edition|Verified Purchase
People really need to know how bad things were after the Great Depression. People need to know what real pain there was, and at the time nobody knew what to do about it. Hoover tried the same old cures: austerity, balanced budget, and volunteerism. It got worse.

Some one, group, or institution had to come up with some cash and start spending it. Those who had money held onto it. Those who had nothing, spent nothing. Business relied on spenders. Try opening a business without customers. Try hiring people without customers.
Fill your shelves with goods, or build stores without customers. Customers spend money, Customers need money in order to spend.
It's that simple. There are three kinds of spenders: individuals, groups, or governments. Guess who has the biggest pocket.
Those who think that government is the problem ought to try getting along with subsidies, contracts, "pork barrel projects, or government
4.0 out of 5 stars Learning from History 17 Sept. 2013
By John T. Harding - Published on
Format:Kindle Edition|Verified Purchase
For those who want to understand the fix we're in today, here's a good place to start. Like the man said, those who do not learn from history are condemned to repeat it.
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