Analysis on the Impact of the Gold Standard on the Great Depression

DOI

10.2991/aebmr.k.220405.285How to use a DOI?

Keywords

Great Depression; gold standard; stock market; Smoot-Hawley Tarriff

Abstract

The great depression that happened during the 1920s had a huge impact on the whole social and economic process. It is also one of the most well-known crises in the world. This paper, through a method of literature review, will focus on the impact of the gold standard on the Great Depression. Besides, it will also discuss what happened before the Great Depression and what caused it, including its major impact on the world. The paper finds that the Great Depression happened during the stock market crash of 1929, the global trade collapse caused by the Smoot-Hawley Tariff, government actions, bank failures and panics, and the money supply collapse. The gold standard during the great depression made its export demand in the United States smaller than before. Besides, deflation was crippled by a sluggish economy, the stock market crisis of 1929, and a subsequent wave of bank bankruptcies in 1930 and 1931.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article distributed under the CC BY-NC 4.0 license.

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TY  - CONF
AU  - Zunyu Wang
PY  - 2022
DA  - 2022/04/29
TI  - Analysis on the Impact of the Gold Standard on the Great Depression
BT  - Proceedings of the 2022 7th International Conference on Social Sciences and Economic Development (ICSSED 2022)
PB  - Atlantis Press
SP  - 1715
EP  - 1719
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220405.285
DO  - 10.2991/aebmr.k.220405.285
ID  - Wang2022
ER  -