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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (1062)3/2/2004 10:46:22 PM
From: gregor_us  Read Replies (1) of 116555
 
The Notion That Gold Policy Exacerbated the Depression

is a theory resented greatly by gold bugs--but it has spread broadly now. People might want to read an incredibly boring but useful book by Peter Temin, on MIT press about the Great Depression.

The more useful thesis from Temin's book, I think, apart from the Gold Standard issue--is that in a crisis, people tend to scurry back in their panic to "what worked before." This of course causes all sorts of secondary and unexpected problems on its own...
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