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Les origines « inopportunes » de la crise de 1929 en France

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  • Jacques Marseille

Abstract

[fre] On peut souvent lire que la crise de 1929 en France serait une crise tardive qui n'éclaterait qu'en 1931. Or, en observant l'ensemble des indicateurs de la conjoncture, on peut constater que le « point de retournement » se situe, pour une grande majorité des branches industrielles, à partir de la fin 1927. Loin d'être une conséquence de la crise américaine, la crise du capitalisme français a été provoquée par les contradictions de la croissance économique des années 1920, contradictions entre le formidable essor de la productivité et la stagnation de la demande effective. La crise de 1929 marquerait ainsi le divorce entre deux mondes, le monde du XXe siècle dominé par la révolution « capitalistique » et le monde du xixc siècle sur lequel pèse encore la « loi d'airain » et l'absence de consommation de masse. [eng] The « off-the record » origins of the 1929 crisis in France. The French crisi» of 1929 is often anahjsed as a late crisis breaking ont in 1931. Now, observing all the conjoncture's indicators, it is possible to establish that the « turning point n is situated, for the majority of industriel sectors, at the end of 1927. Far from being a repercussion of the American crisis, the crisis of the French capitalism was born from the contradictions of the économic growth in the 1920's, contradictions between the formidable take off of productivity and the stagnation of effective demahd. The 1929 crisis would thus mark the divorce between two worlds, the world of twentieth century dominated by the « capita-listic » revolution and the world of nineteenth centurty still dominated by the « iron law » of wages and the absence of mass consumption.

Suggested Citation

  • Jacques Marseille, 1980. "Les origines « inopportunes » de la crise de 1929 en France," Revue Économique, Programme National Persée, vol. 31(4), pages 648-684.
  • Handle: RePEc:prs:reveco:reco_0035-2764_1980_num_31_4_408547
    DOI: 10.3406/reco.1980.408547
    Note: DOI:10.3406/reco.1980.408547
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    Cited by:

    1. Raphaël Hekimian, 2017. "The French banking sector during the interwar: What lessons can be drawn from the stock market?," EconomiX Working Papers 2017-3, University of Paris Nanterre, EconomiX.
    2. Patrice Baubeau & Eric Monnet & Angelo Riva & Stefano Ungaro, 2021. "Flight‐to‐safety and the credit crunch: a new history of the banking crises in France during the Great Depression," Economic History Review, Economic History Society, vol. 74(1), pages 223-250, February.
    3. Raphaël Hekimian, 2017. "The French banking sector during the interwar: What lessons can be drawn from the stock market?," Working Papers hal-04141670, HAL.
    4. Tony Syme, 2000. "Public Policy and Unemployment in Interwar France: An Empirical Approach," Economics Series Working Papers 55, University of Oxford, Department of Economics.

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