Interpretations of the 1929 Crisis in the North American Context
Name: MARIANA MONTEIRO CRESPO
Publication date: 29/05/2018
Advisor:
Name |
Role |
|---|---|
| ROGÉRIO ARTHMAR | Advisor * |
Examining board:
| Name |
Role |
|---|---|
| ALEXANDRE OTTONI TEATINI SALLES | Internal Examiner * |
| FLAVIA NICO VASCONCELOS | External Examiner * |
| ROGÉRIO ARTHMAR | Advisor * |
Summary: The work explains and analyses the main interpretations on the Crash of New York Stock Exchange as well as the subsequent Great Depression following the 1930s. The survey is organized in three chapters. As the crisis was caused by a great speculation in the international financial system, the first chapter proposes a study on the mechanisms inherent to the classic gold standard (1880-1914), giving especial highlighting to the deflationary measures and to the system of banking cooperation, which, in great extend, contributed to its success. Next, some possible causes to explain the failure in reintroducing gold standard in the Inter-war period are criticized. In the second chapter, traditional and modern
interpretations of the 1929 Crack of New York Stock Exchange are sparred, having in sight what renowned authors such as Joseph A. Schumpeter, John M. Keynes, Lionel Robbins, Milton Friedman, Charles P. Kindleberger, among others conceived on this issue. In the last chapter, the contributions of contemporary authors like Peter Temin, Christina D. Romer, Benjamin Bernanke, Barry Eichengreen and Frederico Mazzucchelli are appreciated. A historical study on the American economy is, therefore, carried out in order to point out the main events and characteristics that marked the political and economic trajectory of the United States, and culminated afterwards in one of the largest crises of world capitalism. The results obtained through this work point to the impossibility of taking a single element as responsible for triggering
the crisis of 1929, but to reveal the existence of a confluence of several factors capable of describing with truthfulness the reasons that led to the aggravation of the crisis great depression.
