Theories of the Great Depression: Why Did Profitability Matter?
- 1 June 1987
- journal article
- research article
- Published by SAGE Publications in Review of Radical Political Economics
- Vol. 19 (2) , 16-42
- https://doi.org/10.1177/048661348701900202
Abstract
This paper attempts to show that inadequate levels of profitability played an important role in the onset of the Great Depression. Three popular alternative views of the crash are first criticized: the Monopoly View, the Underconsumption Theory, and the Monetarist Explanation. In our opinion, the underlying cause of the crash was the instability at the end of the decade of the 1920s which resulted from an earlier decline in the rate of profit.Keywords
This publication has 19 references indexed in Scilit:
- A Monetary History of the United States, 1867-1960Published by Walter de Gruyter GmbH ,2008
- The dynamics of competition: a restoration of the classical analysisCambridge Journal of Economics, 1987
- Underconsumption, Over-Investment and the Origins of the Great DepressionReview of Radical Political Economics, 1983
- Monopoly Explanations of the Great Depression and Public Policies Toward BusinessPublished by Springer Nature ,1981
- The German Business Cycle in the 1920's: A CommentThe Economic History Review, 1977
- Three-and-a-Half Million U.S. Employees Have Been Mislaid: Or, an Explanation of Unemployment, 1934-1941Journal of Political Economy, 1976
- The German Business Cycle in the 1920'sThe Economic History Review, 1975
- A Reappraisal of Some Factors Associated with Fluctuations in the United States in the Interwar PeriodSouthern Economic Journal, 1973
- Capital in Manufacturing and MiningPublished by Walter de Gruyter GmbH ,1960
- The Decline of the Commercial LoanThe Quarterly Journal of Economics, 1931