The Great Depression


Book Description

This book examines the nature and the causes of the 1929 depression, tracing its background and the broad conditions from which the depression emerged. As an infl uence on economic activity, Robbins sees World War I, and the political changes that followed it, as a series of shifts in the fundamental conditions of demand and supply, to which economic activity had to adapt. Th e needs of the war had called a huge apparatus of mechanical equipment into being, which the resumption of peace rendered in large part superfl uous. The war also disrupted world markets, and its settlement created conditions that aggravated this disruption. Th us, the struggle that was to end nationalist friction in fact gave nationalism new scope. The depression of 1929 and beyond dwarfed all preceding economic disruptions, both in magnitude and in intensity. In 1929 the index of security prices in the United States was in the neighborhood of 200-210; in 1932 it had fallen to 30-40. Commodity prices in general fell by 30 to 40 percent, and in some commodity markets the drop was even more catastrophic. Production in the chief manufacturing countries of the world from 30 to 50 percent, and the value of world trade in 1932 was a third of what it was three years before. Worldwide, something like 30 million people were unemployed. There have been many economic downturns in modern economic history, but never anything to compare with the years of the Great Depression. Few books have conveyed that period with greater clarity and precision than this masterpiece by Lionel Robbins. Murray Weidenbaum's masterful new introduction adds to its contemporary value.




Weekly Letters


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Weekly Letter


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Bradstreet's Weekly


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Britannia and the Bear


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A compelling new narrative about how two Great Powers of the early twentieth century did battle, both openly and in the shadows Decades before the Berlin Wall went up, a Cold War had already begun raging. But for Bolshevik Russia, Great Britain - not America - was the enemy. Now, for the first time, Victor Madeira tells a story that has been hidden away for nearly a century. Drawing on over sixty Russian, British and French archival collections, Britannia and the Bear offers a compelling new narrative about how two great powers of the time did battle, both openly and in theshadows. By exploring British and Russian mind-sets of the time this book traces the links between wartime social unrest, growing trade unionism in the police and the military, and Moscow's subsequent infiltration of Whitehall. As early as 1920, Cabinet ministers were told that Bolshevik intelligence wanted to recruit university students from prominent families destined for government, professional and intellectual circles. Yet despite these early warnings, men such as the Cambridge Five slipped the security net fifteen years after the alarm was first raised. Britannia and the Bear tells the story of Russian espionage in Britain in these critical interwar years and reveals how British Government identified crucial lessons but failed to learn many of them. The book underscores the importance of the first Cold War in understanding the second, as well as the need for historical perspective ininterpreting the mind-sets of rival powers. Victor Madeira has a decade's experience in international security affairs, and his work has appeared in leading publications such as Intelligence and National Securityand The Historical Journal. He completed his doctorate in Modern International History at Gonville and Caius College, Cambridge.










Employment Bulletin


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