Economic Disasters of the Twentieth Century

Edited by Michael J. Oliver, Professor of Economics, ESC Rennes School of Business, France and Associate of Lombard Street Research and Derek H. Aldcroft, Fellow, University of Leicester, UK

The First and Second World Wars, the great depression, oil shocks, inflation, financial crises, stock market crashes, the collapse of the Soviet command economy and Third World disasters are discussed in this comprehensive book. The contributors subject these disasters to in-depth assessment, carefully considering their costs and impact on specific countries and regions, as well as assessing them in a global context. The book examines the legacy of economic disasters and asks whether economic disasters are avoidable or whether policymakers can learn from their mistakes.

‘The book would make a good text or supplemental reading for a course in the economic history of the twentieth century, either at the advanced undergraduate or graduate level. Students love disasters. . . all the essays reach a high level of quality. Each of the authors is a well-regarded expert in his field and clearly capable of producing a well-crafted essay. . . The authors and editors are to be congratulated.’
– Hugh Rockoff, EH.Net

‘. . . the editors have offered a compelling interpretation of the twentieth century as one of the economic disasters, and the contributors have provided the ammunition to back it up. . . many of the individual contributions will undoubtedly be cited in their respective fields for years to come.’
– David S. Jacks, Australian Economic History Review

‘. . . contains plenty of good stuff.’
– Sunday Times

‘Here is a book to warm the cockles of George Santayana’s heart. Can policy makers and, especially, economists learn from their mistakes? If they can, then they should start by reading Oliver and Aldcroft’s gripping collection of the great economic policy mistakes of the twentieth century.’
– Barry Eichengreen, University of California, Berkeley, US

‘This is a fine collection of essays. There is no point in playing the game of awarding gold, silver, and bronze medals, as reviewers often do, because all the essays reach a high level of quality. Each of the authors is a well-regarded expert in his field and clearly capable of producing a well-crafted essay. The surprising thing, given the variability that characterizes most collected volumes, is that all of the authors came through. Each wrestled with important questions and developed his answers in detail. There were no slackers. The authors and editors are to be congratulated.’
– Hugh Rockoff, Rutgers, The State University of New Jersey, Newark, USA for EH.Net