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Price adjustments post 1929 linked to demand collapse, George Selgin argues

Price adjustments post 1929 linked to demand collapse, George Selgin argues
1929 demand collapse shaped price moves

George Selgin raises a hypothetical scenario regarding economic adjustments following 1929. He suggests that if there had been only an Austrian boom and no collapse in the money stock and aggregate demand after 1929, many of the nominal price adjustments attributed to policies under Hoover and FDR would not have been necessary.

Selgin's comment centers on the relationship between monetary contraction, aggregate demand, and resulting price movements in the U.S. during that period.

Selgin has previously criticized the Federal Reserve’s effectiveness in providing a stable, elastic currency, arguing the Canadian system offers superior reforms (article). In separate commentary, he challenged U.S. proposals to require bank charters for stablecoin issuers, stating that such rules undermine their intended purpose (article). His recent remarks extend his ongoing scrutiny of U.S. monetary policy frameworks.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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