Jump to ContentJump to Main Navigation
The World Economy between the World Wars$
Users without a subscription are not able to see the full content.

Charles H. Feinstein, Peter Temin, and Gianni Toniolo

Print publication date: 2008

Print ISBN-13: 9780195307559

Published to Oxford Scholarship Online: May 2008

DOI: 10.1093/acprof:oso/9780195307559.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 29 November 2020

Industrial Progress and Recovery

Industrial Progress and Recovery

(p.160) Chapter 9 Industrial Progress and Recovery
The World Economy between the World Wars

Charles H. Feinstein (Contributor Webpage)

Peter Temin (Contributor Webpage)

Gianni Toniolo

Oxford University Press

The failure of aggregate demand in the 1930s meant that employment and output in industrial economies declined, but the capabilities of these economies did not disappear with jobs. Idle capital reduced the need for net investment, but replacements still offered the opportunity for improvement, and new products and new methods continued to be introduced even in the worst of times. This chapter shows that the abundant capital flows from rich to poor countries of the 1920s vanished completely in the Great Depression. It goes on to record the progress of individual economies and industries in the various world regions in this more hostile economic environment, and to review the policies adopted to promote recovery in different contexts. It records the astonishing improvement in productivity that provides a positive counterpoint to the doleful economic condition that dominated contemporary discussions. It closes with the final attempt at international cooperation before the Second World War, the Tripartite Agreement of 1936.

Keywords:   productivity growth, agriculture, coal industry, chemical industry, electricity, radio, Tripartite Agreement, Latin American import substitution

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .