Published Oct 11, 2010

Douglas Irwin on the Great Depression and the Gold Standard

Douglas Irwin delves into the Great Depression, analyzing the interplay of deflation and debt, and the pivotal role of the gold standard, highlighting France's significant influence on global economic downturns through their gold reserves and deflationary policies.

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Topics covered

Episode Highlights

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Douglas Irwin on the Great Depression and the Gold Standard

Topics covered

Popular Clips

The Worldwide Depression

Monetary Policy Insights

Economic Crisis Lessons

The Gold Standard

The Gold Standard

Deflation and Debt

Gold Reserves Impact

The Gold Standard Game

Fed's Inaction

The Great Depression's Link

The Gold Standard Tragedy

The Impact of Deflation

Real Shocks and the Smooth Holly Tariff

Episode Highlights

Deflation and Debt

Gold Standard Debate

French Economic Policies

Related Episodes

Gene Epstein on Gold, the Fed, and Money

Robert Higgs on the Great Depression

Thomas Rustici on Smoot-Hawley and the Great Depression

Eric Rauchway on the Great Depresson and the New Deal

George Selgin on Monetary Policy and the Great Recession

James Hamilton on Debt, Default, and Oil

David Kennedy on the Great Depression and the New Deal

Garett Jones on Fisher, Debt, and Deflation

Barry Eichengreen on the Dollar and International Finance

Robert Barro on Disasters

Milton Friedman on Money

John Nye on the Great Depression, Political Economy, and the Evolution of the State

Tyler Cowen on Monetary Policy

Larry White on the Clash of Economic Ideas

David Laidler on Money

Douglas Irwin on the Great Depression and the Gold Standard

Topics covered

Popular Clips

Episode Highlights

Deflation and DebtDouglas Irwin examines the deflation dynamics during the Great Depression, highlighting the challenges posed by price and wage rigidity. He also explores how deflation increased the real debt burden, exacerbating economic hardships and impacting global economies.

Deflation and Debt

Gold Standard Debate

French Economic PoliciesDouglas Irwin examines France's accumulation of gold reserves and its significant role in the global deflation during the Great Depression. He argues that France's policies imposed massive deflation on the world, contributing to the economic contraction that followed.

French Economic Policies

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