{"product_id":"gold-the-real-bills-doctrine-and-the-fed-sources-of-monetary-disorder-1922-1938-9781948647557","title":"Gold, the Real Bills Doctrine, and the Fed: Sources of Monetary Disorder, 1922-1938","description":"\u003cp\u003eThe gold standard is often blamed for causing \"the Great Contraction\" - the unprecedented collapse of the U.S. money stock that began after the 1929 stock market crash and led to the Great Depression.\u003c\/p\u003e\u003cp\u003eIn \u003cem\u003eGold, the Real Bills Doctrine, and the Fed: Sources of Monetary Disorder, 1922-1938, \u003c\/em\u003epreeminent monetary historians Thomas M. Humphrey and Richard H. Timberlake thoroughly refute that claim. Instead, they identify the culprit as a now relatively unknown, but once highly influential, theory: the Real Bills Doctrine. The Fed's failure to stem the Great Contraction was due, not to any shortage of gold, but to Fed official's devotion to a doctrine that made them unwilling to make full use of the United States' ample gold reserves.\u003c\/p\u003e\u003cp\u003eAnyone interested in understanding the causes of Great Depression, and particularly the part prevailing economic theories played in it, should regard \u003cem\u003eGold, the Real Bills Doctrine, and the Fed: Sources of Monetary Disorder, 1922-1938\u003c\/em\u003e as an absolutely essential work.\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eBinding Type:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Cato Institute\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 09\/03\/2019\u003cbr\u003e\u003cb\u003eISBN:\u003c\/b\u003e 9781948647557\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 226\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.11lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.02h x 5.98w x 0.63d","brand":"Thomas M. Humphrey, Richard H. Timberlake","offers":[{"title":"Default Title","offer_id":36672676921500,"sku":"9781948647557","price":21.21,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0473\/0804\/6492\/products\/img_9e36e938-154b-4f5a-a008-5f1ae9fb5457.jpg?v=1603928149","url":"https:\/\/pastforward.org\/products\/gold-the-real-bills-doctrine-and-the-fed-sources-of-monetary-disorder-1922-1938-9781948647557","provider":"Past Forward","version":"1.0","type":"link"}