Paperback: 160 pages
Publisher: Oxford University Press; 1 edition (March 10, 2008)
Language: English
ISBN-10: 0195326342
ISBN-13: 978-0195326345
Product Dimensions: 6.8 x 0.6 x 4.4 inches
Shipping Weight: 5.6 ounces (View shipping rates and policies)
Average Customer Review: 4.3 out of 5 stars See all reviews (20 customer reviews)
Best Sellers Rank: #47,315 in Books (See Top 100 in Books) #76 in Books > Politics & Social Sciences > Politics & Government > Specific Topics > Political Economy #84 in Books > Politics & Social Sciences > Politics & Government > International & World Politics > European #156 in Books > Business & Money > Economics > Economic Conditions
The Oxford University Press publishes a series called "Very Short Introductions" written by authorities in their fields. The series helps to introduce busy and curious readers to a wide variety of subjects. The series numbers nearly 200 volumes and includes subjects from history, philosophy, religion, science, and the humanities. This series constitutes an admirable way for any person to learn something about new matters and to expand his or her intellectual horizons.Eric Rauchway's recent contribution to the series, "The Great Depression & the New Deal" (2008) offers, in 130 pages, a succinct, thoughtful overview of a pivotal and controversial period of American history. Rauchway is Professor of History at the University of California Davis. His books include ""Murdering McKinley: the Making of Theodore Roosevelt's America" and "Blessed Among Nations: How the World Made America." In his "Very Short Introduction" to the Depression and New Deal, Rauchway makes no pretense of offering a complete or a definitive account. Instead, he offers "some basic ideas for a first understanding of this profound crisis and America's still-influential legislative response." (p.2) Rauchway includes a good bibliography "on the principle that you will go on from here if you wish to fully appreciate the period." For the briefness of its approach, Rauchway's book offers good insight into the Depression and New Deal.In his opening chapter, Rauchway traces the origins of the Great Depression to the world-wide collapse of the economic order following WW I, with the tensions between the creditor nation, the United States, and the debt-laden rest of the world. He discusses the uncontrolled expansion of credit in the United States and the speculation-driven rise of the stock market.
The Great Depression and The New Deal is a new title from Oxford University Press in its terrific series of Very Small Introductions. This topic will draw considerable debate from those interested in the factional aspects of economic theory but the author (and I) leave that for the reader to judge for themselves.Eric Rauchway is a Professor of History at the University of California, Davis and has done a remarkable job of putting together an interesting little book which, without pretending to present everything, covers this remarkable period with both old an new perspectives.Starting with the end of The Great War, Rauchway goes into the boom time of the Roaring 20's and into the Wall St Crash of 1929. He points to excessive levels of cheap credit and high levels of debt as a major factor in the impact the Crash had on America, which parallels the present Global financial Crisis.Efforts by the Hoover administration to contain the effects failed and by the time Roosevelt took office in 1933, unemployment stood at around 25%. With a clear mandate and a major crisis on his hands, Roosevelt and his crew acted swiftly and instituted a series of reforms to stabilise the problem in order that it could be acted upon. To do this he took on the banks and brokers in defiance of those who considered him a traitor to his class. Many would have seen it the other way around but it was a brave move anyway you look at it and it had to be done.The book goes on to describe many of the programs such as the CCC and CWA which took on so many of America's unemployed. Purists will argue that this didn't solve any problems but that point of view fails to take into account the fact that these programs had three positive effects.
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