{"product_id":"gold-the-real-bills-doctrine-thomas-m-humphrey-9781948647120","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\u003eAuthor:\u003c\/b\u003e Thomas M. Humphrey, Richard H. Timberlake\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 1948647125\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9781948647120\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Cato Institute\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 09\/03\/2019\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 226\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Paperback\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 0.74lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.00h x 6.00w x 0.52d","brand":"Thomas M. Humphrey","offers":[{"title":"Paperback","offer_id":43983982362879,"sku":"9781948647120","price":14.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_7f651e74-9e64-4b2e-ad7d-aad103c612b0.jpg?v=1683269838","url":"https:\/\/www.whiterainbookhouse.com\/products\/gold-the-real-bills-doctrine-thomas-m-humphrey-9781948647120","provider":"WR Book House","version":"1.0","type":"link"}