Gold, France, and the Great Depression, 1919-1932
Johnson, H. Clark![Gold, France, and the Great Depression, 1919-1932](https://support.digitalhusky.com/media/annotations/sorted/141/1411174/CHSBZCOP031411174.jpg)
H. Clark Johnson develops a convincing and original narrative of the events that led to the major economic catastrophe of the twentieth century. He identifies the undervaluation and consequent shortage of world gold reserves after World War I as the underlying cause of a sustained international price deflation that brought the Great Depression. And, he argues, the reserve-hoarding policies of central banks -- particularly the Bank of France --...