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How the Republicans Caused the Stock Market Crash of 1929: GPT's, Failed Transitions, and Commercial Policy

How the Republicans Caused the Stock Market Crash of 1929: GPT's, Failed Transitions, and Commercial Policy

ISBN: 9780595379088
Publisher: iUniverse, Inc.
Edition: 0
Publication Date: 2005-12-29
Number of pages: 217
Any used item that originally included an accessory such as an access code, one time use worksheet, cd or dvd, or other one time use accessories may not be guaranteed to be included or valid. By purchasing this item you acknowledge the above statement.
$32.94

This book presents an alternative view of the Stock Market Boom and Crash of 1929 as having resulted from government intervention, specifically from a case of flawed government policy in the form of the Republican party's 1928 election promise of an upward tariff revisionthe 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 under income.

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