From the Great Depression to the current crisis: more than analogy, genealogy

Q2 Arts and Humanities

History of Economic Ideas Pub Date : 2014-01-01 DOI:10.1400/230178

L. Fantacci

引用次数: 0

Abstract

This paper investigates the ties that link the Great Depression to the current crisis through the channel of liquidity. The main objective is not to compare the conjunctures that make crises happen, but to highlight the structures that make crises possible. Liquidity is shown to be the distinctive feature, the elusiveness of which has made both the strength and the fragility of monetary and financial systems over the past century. The brief conclusion hints at several ways in which international liquidity could be reduced to stem the flux of financial crises.

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从大萧条到当前的危机:不仅仅是类比，而是族谱

本文通过流动性的渠道考察了大萧条与当前危机之间的联系。主要目的不是比较导致危机发生的因素，而是强调使危机成为可能的结构。流动性被证明是一个独特的特征，在过去的一个世纪里，流动性的难以捉摸既造就了货币和金融体系的强大，也造就了它们的脆弱。这个简短的结论暗示了几种可以减少国际流动性以阻止金融危机波动的方法。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

History of Economic Ideas Arts and Humanities-History

CiteScore

0.50

自引率

0.00%

发文量

期刊介绍： History of Economic Ideas is a new international series of Quaderni di storia dell''economia politica, a journal founded in 1983 to promote collaboration between scholars who share an historical approach to the major issues, the various "revolutions" which have left their mark on economics and the spread of economic ideas beyond the narrow circle of specialists. History of Economic Ideas rejects the dichotomy between "analysis" and "culture": both aspects are of equal importance for a wider understanding of the subject. In a period such as our own, where paradigms which once seemed unshakeable are now being challenged, a multidisciplinary analysis of the historical development of economics might contribute to shedding light on the issues at the root of current debate. Besides essays and critical surveys, the journal includes archive material and reviews of new books on history of economics. History of Economic Ideas is double-blind peer reviewed.