Depression and Policy in the Thirties

Abstract

Any period of history chosen at random reveals uncertainties, and the modern age is decidedly no exception. Society is more complex than ever before, and is constantly in motion. The sources are so abundant as to be confusing, and so inaccessible as to be invisible. Recent events evoke more prejudice, emotion and bias than the tales left to be told by the historian. The last half-century, which in human terms embraces contemporary history, certainly affords ample material for discussion.

The following pages contain a slightly abridged version of an article which was previously published under the title ‘Depressie en beleid tijdens de jaren dertig’ in: J. van Herwaarden, ed., Lof der Historie (Rotterdam, 1973) 289–335. This in turn was the greatly modified and expanded text of a speech delivered by the author on the occasion of the 58th dies natalis of the Nederlandse Economische Hogeschool in Rotterdam on 8th November, 1971. Many of the thoughts which formed the basis of that article were formulated during animated discussions with students who, during the academic year 1970–1971, attended the Seminar on the subject of economic history. They too contributed a great deal of material in the form of examination papers. The author also owes a debt of gratitude to Mr. J. Teijl, who repeatedly showed himself to be a critical partner in discussion, and who will doubtless concur only partly in the contents of the article.