The great depression of 1929 and the great financial crisis of 2008 have been the two big events of the last 75 years. Not only have they produced serious economic consequences but they also changed our view of economics and policymaking. The aim of this work is to compare these two great crises...

Introduction -- Hard times from colonial to postrevolutionary America -- Hard times and the financial panics of 1819 and 1837 -- The panics of 1873 and 1893, and hard times in between -- Depressions and policy disputes in America, circa 1720-1928 -- The onset of the Great Depression -- The early...

America's First Great Depression -- Contents -- Introduction: Back to the Future -- 1. Boom and Bust -- Hard times -- Gauging the losses -- The bubble -- The collapse -- 2. The States' Crisis -- Defaulting on state debts -- Disgrace in Europe -- Shackling the states -- 3. The Federal...