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The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression

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Economic historians have made great progress in unraveling the causes of the Great Depression, but not until Scott Sumner came along has anyone explained the multitude of twists and turns the economy took.

In The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression, Sumner offers his magnum opus—the ?rst book to comprehensively explain both monetary and non-monetary causes of that cataclysm.

Drawing on ?nancial market data and contemporaneous news stories, Sum...