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How the Republicans Caused the Stock Market Crash of 1929: GPT's, Failed Transitions, and Commercial Policy
Rok: 2005
ISBN: 9780595379088
OKCZID: 110044528
Citace (dle ČSN ISO 690):
BEAUDREAU, Bernard C. How the republicans caused the Stock Market Crash of 1929: GPT's, failed transitions and commercial policy. New York: iUniverse, Inc., c2005. xv, 200 s.
Anotace
This book presents an alternative view of the Stock Market Boom and Crash of 1929 as having resulted from government intervention, specifically from flawed government policy in the form of the Republican party's 1928 election promise of an upward tariff revision, the Smoot-Hawley Tariff Bill. As such, the stock market in particular and the market mechanism in general were not to blame, government was. Where the market was to blame, however, was in its reaction to the massive technology shock that was electric power-based extremely-high-throughput, continuous-flow mass production techniques (EHTCFPT) pioneered at the Ford Motor Company's Highland Park plant in Detroit, Michigan. Specifically, aggregate income and expenditure failed to rise commensurately with vastly increased productive capacity, resulting in underincome.