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2023 | OriginalPaper | Chapter

Introduction

Author : Robert J. Bigg

Published in: Alvin Hansen

Publisher: Springer International Publishing

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Abstract

America in the early twentieth century was an uneasy alliance of agriculture, industry, and finance, laid bare in the speculative boom of 1929, subsequent crash, and Great Depression of the 1930s. The pioneering west versus the financial control of the east. The New Deal reflected those different concerns, balanced with the needs of the population and democracy as a whole, as it sought to find the right mix of planning and control in an essentially capitalist system while avoiding the fascism of monopoly or the totalitarianism of a planned socialist economy.

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next chapter From “Just a Simple Farm-Boy” to the Ivy League
Footnotes
1
The ten canvas panels are now in the Metropolitan Museum of Art: Instruments of Power, City Activities with Dance Hall, City Activities with Subway, Deep South, Midwest, Changing West, Coal, Steel, City Building, and Outreaching Hands.
 
2
The New School was a graduate level offshoot of Institutionalist tradition at Columbia, with a new academic freedom “to seek an unbiased understanding of the existing order, its genesis, growth and present working” (quoted in New York Times, 1919-09-30: 20), its courses concentrated on economics, business science, public finance, and quantitative methods. The founders included Thorstein Veblen and Wesley Mitchell.
 
3
Samuelson (1976: 28), Mehrling (1997: 100), also Musgrave (1976: 3).
 
Literature
Hansen, A.H. (1927) Business cycle theory, its development and present status. Boston: Ginn and Company.
Hansen, A.H. (1932a) Economic stabilization in an unbalanced world. New York: Harcourt Brace & Company.
Hansen, A.H. (1938a) Full recovery or stagnation?, (with a forward to the English edition By Arthur D. Gayer). London: Adam & Charles Black, New York: W.W. Norton.
Colander, D.C. & Landreth, H. (eds.) (1996) The coming of Keynesianism to America. Cheltenham: Edward Elgar.
Tooze, A. (2014) The deluge. London: Allen Lane.
Metadata
Title
Introduction
Author
Robert J. Bigg
Copyright Year
2023
Book
Alvin Hansen

Print ISBN: 978-3-031-42215-7

Electronic ISBN: 978-3-031-42216-4

Copyright Year: 2023

DOI
https://doi.org/10.1007/978-3-031-42216-4_1