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Limits of the Possible for Economic Policy Choice

In: Policy Responses to the Interwar Economic Crisis

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  • Adnan Türegün

    (Carleton University)

Abstract

The overarching goal of this chapter is to define the limits of the possible for economic policy choice during the Great Depression. The first section reviews world-historical developments in the interwar period both across the 1920s–1930s divide and along the international–domestic, secular–cyclical, and economic–political lines. The upshot of these developments for policy choice was their exclusion of classical liberalism and inclusion of protectionism, proto-Fordism, and neomercantilism. The second section brings down the policy options to two at the country level by factoring in the political regime limits of policy choice. The choice was between protectionism and proto-Fordism under democracy, and between protectionism and neomercantilism under dictatorship.

Suggested Citation

  • Adnan Türegün, 2022. "Limits of the Possible for Economic Policy Choice," Springer Books, in: Policy Responses to the Interwar Economic Crisis, chapter 0, pages 43-98, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-96953-0_2
    DOI: 10.1007/978-3-030-96953-0_2
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