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The New Deal and Modern Memory

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The "Great Recession," which began at year-end 2007. was precipitated by plunging real estate
values, followed by borrower defaults and financial crisis for the public and private institutions
that supplied loanable funds to the mortgage market. With economic growth not yet returned
to trend, three years on more than 9% of the American labor force remains unemployed.
Current macroeconomic events, perhaps inevitably, have been compared to those of the Great
Depression of 1929-1933, both in terms of severity and of the efficacy of the public policies
adopted ostensibly to restore prosperity. In this article, I review the literature on the New Deal,
paying particular attention to modern scholarship emphasizing the role of presidential politics
and antibusiness political rhetoric in deepening and prolonging the Great Depression. The
parallels between then and now suggest that the two economic contractions had similar causes
and elicited equally counterproductive policy responses.

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Informasi Detail

Judul Seri

Southern Economic Journal

No. Panggil

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Penerbit

: Southern Economic Association., 2011

Deskripsi Fisik

Southern Economic Journal, 77(3), 515-^542

Bahasa

English

ISBN/ISSN

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Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

ADMINISTRASI

Info Detail Spesifik

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Pernyataan Tanggungjawab

Asmawati

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