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La grande dépression, énigme d'hier ou d'aujourd'hui ?

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  • Gérard Duménil
  • Mark Glick
  • José Rangel

Abstract

[fre] La grande dépression, énigme d'hier ou d'aujourd'hui?. . En s'appuyant principalement sur dés études qui furent réalisées aux Etats-Unis dans les années vingt et trente, cet article présente les trois interprétations principales qui turent données de la crise de 1929 : rigidités des prix et des salaires, insuffisance de la demande résultant d'une distorsion de la répartition à l'avantage des profits, effondrement du système bancaire consécutif à une erreur de politique monétaire. Dans chacun des cas, les faits principaux auxquels se réfèrent les auteurs de ces interprétations sont réétablis grâce à la présentation d'un ensemble de graphes extraits des études utilisées. Cette revue critique introduit naturellement à une relecture des événements et à la mise en avant d'une thèse originale. La fragilité de l'industrie des années vingt trouve, en fait, ses fondements dans la faible profitabilité de l'industrie américaine. A partir d'une telle ligne directrice, les faits principaux s'enchaînent avec plus d'aisance. [eng] The great depression: yesterday's riddle for todday. . On the basis of a review of the main studies realized during the twenties and thirties in the U.S.. this article presents the three main interpretations which were given of the Great Depression : sticky prices and Jack of flexibility of wages downward, deficiency in demand resulting from a bias in the distribution of income to the advantage of profits, collapse of the banking system due to a mistake in the definition of monetary policy. For each of these interpretations, the relevant facts are recalled, using graphical representations borrowed from the studies which are considered. This critical review introduces to a reassessment of the chain of events leading to the depression and to the formulation of an original thesis concerning its origin. The fragility of the industry during the twenties is based, in fact, on the deficient profitability of the productive System. Following such a guideline, the interpretation of these events becomes quite easier.

Suggested Citation

  • Gérard Duménil & Mark Glick & José Rangel, 1986. "La grande dépression, énigme d'hier ou d'aujourd'hui ?," Revue Économique, Programme National Persée, vol. 37(3), pages 381-428.
  • Handle: RePEc:prs:reveco:reco_0035-2764_1986_num_37_3_408921
    DOI: 10.3406/reco.1986.408921
    Note: DOI:10.3406/reco.1986.408921
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    References listed on IDEAS

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    1. Frederick C. Mills, 1932. "Economic Tendencies in the United States: Aspects of Pre-War and Post-War Changes," NBER Books, National Bureau of Economic Research, Inc, number mill32-1.
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