Scott Sumner, The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression. Oakland, CA: Independent Institute, 2015. 524 Pages. USD 37.95 (cloth)

This is a preview of subscription content, access via your institution.

Notes

  1. 1.

    The gold reserve ratio is defined as the ratio of the monetary gold stock and the currency stock.

References

  1. Alchian, A. (1950). Uncertainty, evolution, and economic theory. Journal of Political Economy, 58, 211–21.

    Article  Google Scholar 

  2. Bernanke, B. S. (1995). The macroeconomics of the great depression: a comparative approach. Journal of Money, Credit and Banking, 27(February), 1–28.

    Article  Google Scholar 

  3. Cachanosky, N. (2014). The mises-hayek business cycle theory, fiat currencies, and open economies. Review of Austrian Economics, 27, 281–299.

  4. Eichengreen, B. (1992). Golden fetters: The gold standard and the great depression, 1919–1939. New York: Oxford University Press.

    Google Scholar 

  5. Fama, E. (1970). Efficient capital markets: a review of theory and empirical work. Journal of Finance, 25, 383–417.

    Article  Google Scholar 

  6. Glasner, D. (1989). Freebanking and monetary reform. Cambridge: Cambridge University Press.

    Google Scholar 

  7. Hawtrey, R. G. (1913). Good and bad trade: An inquiry into the causes of trade fluctuations. London: Longman, Green, and Co.

    Google Scholar 

  8. Hawtrey, R. G. (1919a). Currency and Credit. London: Longman, Green, and Co.

    Google Scholar 

  9. Hawtrey, R. G. (1919b). The gold standard. The Economic Journal, 29(116), 1428–42.

    Article  Google Scholar 

  10. Hawtrey, R. G. (1947). The gold standard in theory and practice. London: Longman, Green, and Co.

    Google Scholar 

  11. Hayek, F. A. (1945). The Use of Knowledge in Society. The American Economic Review, 519–530.

  12. Johnson, C. H. (1997). Gold, France, and the great depression. New Haven: Yale University Press.

    Google Scholar 

  13. Keynes, J. M. (1936). The general theory of employment, interest, and money. New York: Harcourt.

    Google Scholar 

  14. Koppl, R. (2002). Big players and the economic theory of expectations. New York: Palgrave Macmillan.

    Google Scholar 

  15. Lachmann, L. (1994). Expectations and the meaning of institutions. London: Routledge.

    Google Scholar 

  16. McCloskey, D. N., & Zecher, J. R. (1984). The success of purchasing-power parity: Historical evidence and its implications for macroeconomics. In M. B. Bordo & A. J. Schwartz (Eds.), A retrospective on the classical gold standard, 1821–1931. Chicago: University of Chicago Press.

    Google Scholar 

  17. Mises, L. (1949). Human Action. New Haven, CT: Yale University Press.

  18. Muth, J. (1961). Rational expectations and the theory of price movements. Econometrica, 29, 315–35.

    Article  Google Scholar 

  19. Temin, P. (1989). Lessons From the Great Depression. Cambridgge, MA: MIT Press.

  20. Yeager, L. (1997). New Kenesians and Old Monetarists. In The Fluttering Veil. Indianapolis, IN: Liberty Fund.

Download references

Author information

Affiliations

Authors

Corresponding author

Correspondence to James Caton.

Rights and permissions

Reprints and Permissions

About this article

Verify currency and authenticity via CrossMark

Cite this article

Caton, J. Scott Sumner, The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression. Oakland, CA: Independent Institute, 2015. 524 Pages. USD 37.95 (cloth). Rev Austrian Econ 30, 543–547 (2017). https://doi.org/10.1007/s11138-016-0344-1

Download citation