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Standard productivity measures indicate large fluctuations in technology during the Great Depression. This article's historical technology series (1892–1966), controlled for aggregation effects, varying input utilization, non-constant returns, and imperfect competition, does not indicate technology regress such that could trigger the downturn. In contrast, technology improvements in the recovery were so rapid that, over the whole Great Depression period, technology growth was highest among pre-WWII decades. This article also finds that output changed little and inputs fell when technology improved in the pre-WWII period. Real-business-cycle models have difficulty in explaining pre-WWII business cycles characterized by such responses. [ABSTRACT FROM PUBLISHER]

I use unique city-month level disaggregated data, from public employment offices, to estimate the matching functions for the 1920s and the early 1930s. The results show that the public labor exchange was slack, a relative deficiency of job vacancies, in the 1920s and it became slacker during the Great Depression. However, the findings show that there was no deterioration of the matching efficiency in the early 1930s. The outcome of a deficiency of labor demand during the 1930s implies that there was a need for effective government policies to implement the new job-creation programs. [ABSTRACT FROM PUBLISHER]

This article reassesses the causes of Chicago state bank failures during the Great Depression by tracking the evolution of their balance sheets in the 1920s. I find that all banks suffered tremendous deposit withdrawals; however banks that failed earlier in the 1930s had invested more in mortgages in the 1920s. The main problem with mortgages was their lack of liquidity, not their quality. Banks heavily engaged in mortgages did not have enough liquid assets to face the withdrawals, and failed. This article thus reasserts the importance of pre-crisis liquidity risk management in preventing bank failures. [ABSTRACT FROM AUTHOR]

In recent years, critical scholars have emphasised how the recollection of past events as traumas can both constrain and widen the political possibilities of a present. This article builds on such research by suggesting that the management of contemporary financial crises is reliant on a ritual work of repetition, wherein prior ‘crisis’ episodes are called upon to identify and authorise specific sites and modes of crisis management. In order to develop this argument, I focus on how past crises figure within the public pronouncements of four key policymaking organisations during the financial instability of 2007–9. I find that while the Great Depression does enable these organisations to reaffirm old ways of managing crises, both it and the more recent Asian crisis are also made to disclose new truths about the evolution of multilateralism as a form of governance. In so doing, I argue, these historical narratives reveal how the management of global financial crisis depends upon a kind of ‘magic trick’. Rather than a strictly rational, historical process of problem solving, contemporary crises are instead negotiated through a contingent and self-referential conjuring of crisis-histories. [ABSTRACT FROM PUBLISHER]

The impact of protection on economic growth has enjoyed a revival in recent times, with the publication of a number of comparative quantitative papers. They all share a common weakness: they measure protection as the ratio of custom revenues to import value, which biases results if demand for imports is not perfectly inelastic. In this article, we show that the measure of protection matters. We estimate the James Anderson and Peter Neary (2005) Trade Restrictiveness Index for Italy from unification to the Great Depression. We suggest a different interpretation of some key moments of Italian trade policy and we show that the aggregate welfare losses were small in the long run and mostly related to protection on sugar in the 1880s and 1890s. We document that using different measures of protection affects results of the causal relation between trade policy on economic growth in Italy and in the United States. Accordingly, we argue that a systematic re-estimating of protection in the economic history of trade policy is needed. [ABSTRACT FROM AUTHOR]

The editorial office has received a number of edited volumes that will be of interest to our readership. To introduce these works, we occasionally list in this section the publication information and tables of contents entries. The five volumes selected for this issue examine the Great Depression in Latin America, immigration and national identities, Latin American foreign policies, Latin American politics and development, and civic life and culture in Cuba's First Republic. [ABSTRACT FROM PUBLISHER]

The 1930s Depression caused an enormous growth in urban poverty in colonial Java. Informal neighbourhood networks could no longer cope with the unemployed, the homeless and the destitute. Politically conscious Indonesians were convinced that the colonial state was concerned only with poverty among Europeans. They responded by creating new charities focused on the Indonesian lower classes. Many provided middle-class women with opportunities for leadership denied them in the political and labour movements. However, those who managed the charities had no concept of empowering the poor. In dispensing support they made a clear distinction between the deserving and the undeserving poor. Nevertheless their charitable work enabled thousands of Indonesians to survive the Depression years. [ABSTRACT FROM PUBLISHER]

I examine the impact of the Great Depression on marriage outcomes and find that marriage rates and local economic conditions are positively correlated. Specifically, poor labor market opportunities for men negatively impact marriage. Conversely, there is some evidence that poor female labor markets actually increase marriage in the period. While the Great Depression did lower marriage rates, the effect was not long lasting: marriages were delayed, not denied. The primary long-run effect of the downturn on marriage was stability: Marriages formed in tough economic times were more likely to survive compared to matches made in more prosperous time periods. [ABSTRACT FROM PUBLISHER]

To estimate the impact of federal spending on state incomes, we develop an annual panel data set between 1930 and 1940. Using panel methods we estimate that an added dollar of federal spending in the state increased state per capita income by between 40 and 96 cents. The point estimates for nonfarm grants are higher and for AAA farm grants are much smaller and negative in some cases. The spending led to increase in durable good spending on automobiles but had no positive effects on private employment. [ABSTRACT FROM PUBLISHER]

The eleven-week dispute at the Amsterdam News in Harlem was the first time in US history that black workers were successful in a labour dispute with black management. Some contemporaries argued that the event represented a triumph for the class-inspired activism of the left, an interpretation in line with the historiography of the long civil rights movement. This article argues that the dispute actually demonstrated the challenges inherent in pursuing labour-based protest strategies. Success was achieved by a concentrated group of workers who used their collective power and propitious geographical and social standing to harness the support of a cross-section of leadership groups. This moment of apparent unity concealed enduring divides over interracial activism, not only between nationalist groups and the radical left but also within mainstream groups like the NAACP. Temporary success could be achieved when workers like the Amsterdam News staff managed to bridge these divides. Supporters, however, proved unable to avoid the subsequent dismissal of union instigators by the newspaper's new owners. More broadly, the problems of coordinating activism to target the different groups who controlled black employment continued to bedevil subsequent protests during the transformative era of the New Deal. [ABSTRACT FROM PUBLISHER]

The role of technology shocks as a driver of the Great Depression is the topic of our own earlier work and the paper by Watanabe in this issue. While the two studies differ in their data and assumptions, they complement each other and strengthen the conclusion of both papers: technology shocks were not the driving force of the Great Depression. [ABSTRACT FROM PUBLISHER]

Working out large-scale processes through close attention to local-level analysis remained central to Louise Tilly's approach to social history. An ongoing commitment to agency and strategy undergirded her vision for a global history that made connections between large-scale processes across space, between human agency and structure, and between the past and present. Her vision remains an important influence in my coauthored comparative history of the welfare state in England, France, and the United States. This is illustrated by a discussion of unemployment policies in the three countries at one particular moment of crisis, the Great Depression, concentrating on the United States, where the Depression hit first and hit the hardest. Important differences in demography, the mobilization of ordinary citizens, the responsiveness of state structures to democratic pressure, and public attitudes about the legitimate role of government all affected the history of unemployment policy in each country. [ABSTRACT FROM PUBLISHER]

From the turn of the century up until the 1930s, public education under Dutch rule in Indonesia developed both quantitatively and qualitatively, but this expansion was interrupted, and even reversed, by the onset of the Great Depression. Focusing on schoolteachers in particular, this essay examines the trajectory of education policies in colonial Indonesia in response to the crisis, from the initial measures, to partial recovery in the mid-1930s, up to the Japanese invasion of 1942. The crisis ushered in the policy of indigenisation, which saw large-scale education reorganisation, including the substitution of European teachers with much lower paid Indonesians. Indigenisation was also a political response to the spreading of nationalist ideals through the growing number of independent schools run by Taman Siswa and the Muhammadiyah. Hence, the intention was also to transform Indonesian teachers into cultural agents who would propagate a government-formulated concept of cultural identity among their own community. However, indigenisation contributed to the gradual delegitimisation of colonial authority through the exodus of well-educated Indonesians who had been intended as docile imperial subjects. [ABSTRACT FROM PUBLISHER]

We examine the impact of the Great Depression on the share of votes for right-wing extremists in elections in the 1920s and 1930s. We confirm the existence of a link between political extremism and economic hard times as captured by growth or contraction of the economy. What mattered was not simply growth at the time of the election, but cumulative growth performance. The impact was greatest in countries with relatively short histories of democracy, with electoral systems that created low hurdles to parliamentary representation, and which had been on the losing side in World War I. [ABSTRACT FROM PUBLISHER]

A combination of social and cultural changes account for the popularity of, and the narrative permutations of class and gender in, the cross-class romance films of the 1930s. The analysis is based on a sample of eighty-five cross-class romance films released in the 1929–39 period. The films deal with a dilemma evident in the choice of partners: between interests of wealth and social status and the value of romantic, disinterested love, an ideal which had spread throughout the class structure. Gender distinctions are reinforced by narratives in which the wealthy male is redeemed by the poor female so that he can perform the appropriate male gender roles. When the female is wealthy, the poor male insists on her economic dependence on him. Films with gold diggers reached a peak in the early 1930s and provided imaginary solutions to social anxieties about class and gender among both women and men. [ABSTRACT FROM PUBLISHER]

This paper discusses the responses of The Netherlands Indies colonial government to the rise in urban unemployment in Java brought about by the 1930s Depression. At least one in six of the large European/Eurasian population in the colony, and an even larger proportion of urban Indonesian workers, became unemployed as a result of the Depression. The colonial government and the European community were greatly concerned that the growth of unemployment among Europeans would lead to destitution for many, ultimately forcing them into the native kampung1. They were also concerned about what they saw as the moral decay of local-born European/Eurasian youth who were unemployed in unprecedented numbers. Furthermore, the European community feared that the growth in unemployment among western-educated Indonesians in the towns and cities in Java would create a fertile recruitment ground for nationalist political parties leading to urban unrest. Fear of the kampung for destitute Europeans, and fear of urban unrest from unemployed western-educated Indonesians, shaped the colonial government's responses to urban unemployment. The impact of the Depression on both Indonesian and European unemployed in the towns and cities in Java triggered lengthy debates on the role of the state in the provision of social security. [ABSTRACT FROM PUBLISHER]

During periods of recession, both historians and policy-makers have tended to revisit the multi-faceted relationship between health and economic crisis. It seems likely that the current economic downturn will trigger a new revival of efforts to gauge its implications for people's health around the world. This review will reflect on aspects of the relationship between health and economic crisis, exploring some of the unanswered questions within the historiography of the Great Depression and health, and suggest new directions that this work might take. Within a broadly transnational framework, I will reassess the diverse historiographies of interwar public health, in order to highlight ways in which the methodologies used could inspire future studies for neglected areas within this field, such as Southeast Asia. In doing so, I will illustrate that the effects of the interwar economic fluctuations on health status remain imprecise and difficult to define, but marked a transitional moment in the history of public health. [ABSTRACT FROM AUTHOR]

Argues that the banking crises and collapse of the international gold standard in the early 1930s contributed to the severity of the Great Depression by increasing interest-rate uncertainty. Risk premium; Financial crises, policy changes and the risk premium; Crash of 1929; Banking crises of 1930 and 1931; Britain and United States's departure from the gold standard; Investment models.

Argues for a distinction between offset by declining cost and induced by declining profits of price deflation. Proximate cause of deflation in France; Keyne's theoretical contribution of the depression experience into the heart of economic theory.